Pfizer (NYSE:PFE) Earns "Overweight" Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Pfizer (NYSE:PFE - Free Report) in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a $45.00 price target on the biopharmaceutical company's stock.

Several other analysts have also commented on PFE. Daiwa America raised Pfizer from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, August 7th. StockNews.com raised Pfizer from a "hold" rating to a "buy" rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 31st. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded Pfizer from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Pfizer currently has a consensus rating of "Moderate Buy" and an average target price of $33.91.

Pfizer Stock Performance

Shares of PFE stock traded up $0.02 during mid-day trading on Wednesday, reaching $28.86. The stock had a trading volume of 22,185,119 shares, compared to its average volume of 36,928,039. The business's fifty day moving average is $29.07 and its 200-day moving average is $28.48. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a market cap of $163.54 billion, a price-to-earnings ratio of -481.00, a PEG ratio of 1.02 and a beta of 0.67. Pfizer has a 1-year low of $25.20 and a 1-year high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 earnings per share. On average, research analysts forecast that Pfizer will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.82%. Pfizer's payout ratio is presently -2,800.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PFE. Marshall Wace LLP boosted its holdings in Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company's stock valued at $150,481,000 after purchasing an additional 8,378,173 shares during the period. Swedbank AB purchased a new stake in Pfizer during the 1st quarter worth about $172,902,000. International Assets Investment Management LLC purchased a new stake in Pfizer during the 3rd quarter worth about $146,481,000. Pzena Investment Management LLC lifted its holdings in Pfizer by 181.6% during the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company's stock worth $212,855,000 after buying an additional 4,947,000 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company's stock worth $438,820,000 after buying an additional 2,829,178 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.