UBS Group Cuts Pfizer (NYSE:PFE) Price Target to $29.00

Pfizer (NYSE:PFE) had its price objective lowered by UBS Group from $31.00 to $29.00 in a research note published on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on the company. Guggenheim dropped their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Wolfe Research started coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Truist Financial lowered their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Sanford C. Bernstein began coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Price Performance

Shares of NYSE PFE opened at $26.92 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The company has a market cap of $152.56 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64. The stock’s 50-day moving average is $26.23 and its two-hundred day moving average is $28.06. Pfizer has a 1-year low of $24.48 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the company earned ($0.17) earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. Analysts forecast that Pfizer will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.39%. Pfizer’s dividend payout ratio is currently 232.43%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Large investors have recently modified their holdings of the business. Gladius Capital Management LP raised its position in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares in the last quarter. Quarry LP purchased a new position in shares of Pfizer in the 2nd quarter valued at about $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer in the third quarter valued at about $35,000. Joseph Group Capital Management boosted its holdings in Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 771 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Pfizer during the second quarter worth about $38,000. 68.36% of the stock is 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.