Pfizer (NYSE:PFE) Now Covered by Analysts at Citigroup

Citigroup started coverage on shares of Pfizer (NYSE:PFE) in a report issued on Friday, StockNewsAPI reports. The brokerage issued a neutral rating and a $30.00 target price on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on PFE. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Trading Down 0.7 %

Shares of NYSE PFE traded down $0.19 during trading on Friday, hitting $28.45. 26,091,111 shares of the company traded hands, compared to its average volume of 36,849,277. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $161.22 billion, a P/E ratio of -61.85, a P/E/G ratio of 1.01 and a beta of 0.67. The company has a 50-day moving average price of $29.08 and a 200-day moving average price of $28.50. Pfizer has a 1 year low of $25.20 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during 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 firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. On average, equities analysts predict that Pfizer will post 2.67 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.91%. Pfizer’s payout ratio is currently -365.21%.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently bought and sold shares of the business. Olistico Wealth LLC acquired a new position in shares of Pfizer during the second quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer in the 2nd quarter worth about $29,000. Quarry LP bought a new stake in shares of Pfizer during the second quarter valued at approximately $31,000. Trivant Custom Portfolio Group LLC boosted its position in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.