Pfizer (NYSE:PFE) Receives Neutral Rating from Bank of America

Bank of America reaffirmed their neutral rating on shares of Pfizer (NYSE:PFE - Free Report) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have a $29.00 price target on the biopharmaceutical company's stock.

PFE has been the topic of several other reports. StockNews.com lowered Pfizer from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They set a "market perform" rating and a $32.00 price target on the stock. Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They set an "underperform" rating and a $25.00 price target on the stock. Finally, Evercore ISI raised Pfizer to a "strong-buy" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.64.

Pfizer Trading Down 2.0 %

Shares of Pfizer stock traded down $0.53 on Tuesday, reaching $25.57. 43,201,609 shares of the company were exchanged, compared to its average volume of 38,528,086. The stock has a fifty day moving average price of $27.42 and a 200-day moving average price of $28.36. The firm has a market capitalization of $144.90 billion, a price-to-earnings ratio of 34.55, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer has a fifty-two week low of $24.48 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer's revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) earnings per share. On average, analysts expect that Pfizer will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date was Friday, November 8th. Pfizer's dividend payout ratio is 227.03%.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company's stock valued at $8,405,930,000 after buying an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company's stock valued at $3,766,366,000 after buying an additional 12,864,343 shares during the period. Geode Capital Management LLC increased its stake in shares of Pfizer by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company's stock valued at $3,392,342,000 after buying an additional 1,855,419 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company's stock valued at $2,008,798,000 after buying an additional 2,241,609 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company's stock valued at $1,101,713,000 after buying an additional 6,977,587 shares during the period. Institutional investors own 68.36% of the company's stock.

Pfizer Company Profile

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.