Bank of America Corp. reaffirmed their buy rating on shares of Pfizer Inc. (NYSE:PFE) in a research note released on Tuesday morning. The brokerage currently has a $40.00 price objective on the biopharmaceutical company’s stock.
PFE has been the topic of several other research reports. Vetr upgraded shares of Pfizer from a hold rating to a buy rating and set a $38.08 price objective on the stock in a report on Tuesday, August 2nd. Sanford C. Bernstein restated an outperform rating on shares of Pfizer in a report on Monday. Piper Jaffray Cos. restated an overweight rating and set a $54.00 price objective on shares of Pfizer in a report on Monday, June 27th. TheStreet upgraded shares of Pfizer from a hold rating to a strong-buy rating in a report on Friday, June 3rd. Finally, BMO Capital Markets restated a buy rating and set a $40.00 price objective on shares of Pfizer in a report on Thursday, July 21st. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $38.78.
Pfizer (NYSE:PFE) opened at 33.83 on Tuesday. The company has a market cap of $205.20 billion, a P/E ratio of 29.99 and a beta of 0.87. The stock’s 50 day moving average price is $34.60 and its 200-day moving average price is $34.02. Pfizer has a 52-week low of $28.25 and a 52-week high of $37.39.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. Pfizer had a net margin of 14.88% and a return on equity of 23.37%. The firm had revenue of $13.10 billion for the quarter, compared to the consensus estimate of $13.01 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts predict that Pfizer will post $2.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Tuesday, November 8th. Pfizer’s dividend payout ratio is currently 95.24%.
A number of large investors have recently made changes to their positions in the stock. Nelson Roberts Investment Advisors LLC boosted its position in shares of Pfizer by 6.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,999 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 189 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in shares of Pfizer during the second quarter worth approximately $110,000. Tuttle Tactical Management LLC acquired a new position in shares of Pfizer during the second quarter worth approximately $117,000. Catamount Wealth Management boosted its position in shares of Pfizer by 14.2% in the first quarter. Catamount Wealth Management now owns 4,395 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 545 shares during the last quarter. Finally, Delphi Private Advisors LLC boosted its position in shares of Pfizer by 1.2% in the second quarter. Delphi Private Advisors LLC now owns 4,007 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 47 shares during the last quarter. 69.65% of the stock is currently owned by institutional investors and hedge funds.
Pfizer Company Profile
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
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