Cantor Fitzgerald Reiterates “Overweight” Rating for Pfizer (NYSE:PFE)

Cantor Fitzgerald reiterated their overweight rating on shares of Pfizer (NYSE:PFE) in a report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $45.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the company. Daiwa America upgraded Pfizer from a moderate buy rating to a strong-buy rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded shares of Pfizer from a neutral rating to an outperform rating and upped their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays raised their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an equal weight rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an equal weight rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised Pfizer from a hold rating to a buy rating in a research note on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $34.54.

Pfizer Stock Down 0.3 %

Shares of NYSE:PFE opened at $29.64 on Monday. The company has a 50 day moving average price of $29.16 and a two-hundred day moving average price of $28.09. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company has a market capitalization of $167.96 billion, a PE ratio of -494.00, a PEG ratio of 1.00 and a beta of 0.68. Pfizer has a 52 week low of $25.20 and a 52 week high of $34.62.

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

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.67%. Pfizer’s payout ratio is -2,800.00%.

Institutional Trading of Pfizer

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Norges Bank acquired a new stake in shares of Pfizer in the fourth quarter valued at approximately $2,129,927,000. Massachusetts Financial Services Co. MA lifted its position in shares of Pfizer by 3.2% in the second 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 last quarter. Van ECK Associates Corp boosted its stake in shares of Pfizer by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after acquiring an additional 290,760 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Pfizer by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after acquiring an additional 470,003 shares during the last quarter. Institutional investors and hedge funds 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.