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

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

A number of other equities research analysts also recently weighed in on PFE. Guggenheim lowered their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Wolfe Research began coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Truist Financial dropped their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Stock Down 0.5 %

Shares of NYSE PFE opened at $26.73 on Wednesday. The stock has a 50-day moving average price of $26.18 and a two-hundred day moving average price of $28.04. The company has a market cap of $151.48 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 0.63 and a beta of 0.64. 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 12 month low of $24.48 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the prior year, the business earned ($0.17) EPS. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. As a group, analysts forecast that Pfizer will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.43%. Pfizer’s dividend payout ratio (DPR) is 232.43%.

Insiders Place Their Bets

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gladius Capital Management LP lifted its stake in shares of Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares during the period. Quarry LP acquired a new position in Pfizer in the second quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer in the 3rd quarter valued at approximately $35,000. Joseph Group Capital Management lifted its holdings in shares of Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Pfizer during the second quarter worth about $38,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.