Brokerages Set Pfizer Inc. (NYSE:PFE) Price Target at $29.17

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fifteen analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $29.17.

Several equities analysts have recently issued reports on PFE shares. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. UBS Group boosted their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, Citigroup restated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th.

Institutional Trading of Pfizer

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Modern Wealth Management LLC boosted its holdings in Pfizer by 41.4% during the first quarter. Modern Wealth Management LLC now owns 44,785 shares of the biopharmaceutical company's stock worth $1,135,000 after purchasing an additional 13,104 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Pfizer by 37.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,516,211 shares of the biopharmaceutical company's stock worth $63,441,000 after buying an additional 690,259 shares during the last quarter. Strs Ohio bought a new position in shares of Pfizer in the 1st quarter valued at about $49,968,000. Wealth Management Associates Inc. grew its holdings in shares of Pfizer by 10.2% in the 1st quarter. Wealth Management Associates Inc. now owns 54,720 shares of the biopharmaceutical company's stock valued at $1,387,000 after acquiring an additional 5,053 shares in the last quarter. Finally, Intrua Financial LLC increased its position in shares of Pfizer by 17.4% in the first quarter. Intrua Financial LLC now owns 78,392 shares of the biopharmaceutical company's stock valued at $1,986,000 after acquiring an additional 11,643 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Trading Down 0.4%

NYSE PFE traded down $0.09 during trading hours on Monday, hitting $23.37. The company's stock had a trading volume of 35,434,462 shares, compared to its average volume of 47,723,344. Pfizer has a twelve month low of $20.92 and a twelve month high of $31.54. The firm has a market capitalization of $132.85 billion, a P/E ratio of 16.57, a PEG ratio of 0.64 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average of $23.08 and a 200 day moving average of $25.04.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The firm's quarterly revenue was down 7.8% on a year-over-year basis. Equities research analysts forecast that Pfizer will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date is Friday, May 9th. Pfizer's dividend payout ratio (DPR) is currently 124.64%.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.