Jefferies Group cut shares of Pfizer Inc. (NYSE:PFE) from a buy rating to a hold rating in a report released on Thursday. The firm currently has $36.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $39.00.
A number of other research analysts have also recently issued reports on the stock. Argus reaffirmed a buy rating and issued a $39.00 target price on shares of Pfizer in a report on Tuesday, October 4th. Bank of America Corp. reaffirmed a buy rating and issued a $40.00 target price on shares of Pfizer in a report on Tuesday, September 27th. Sanford C. Bernstein reaffirmed an outperform rating on shares of Pfizer in a report on Monday, September 26th. Piper Jaffray Cos. set a $54.00 target price on shares of Pfizer and gave the company a buy rating in a report on Tuesday, August 23rd. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $40.00 target price on shares of Pfizer in a report on Tuesday, August 23rd. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $38.59.
Pfizer (NYSE:PFE) traded up 0.290% on Thursday, reaching $32.855. The company had a trading volume of 3,314,696 shares. The stock has a market capitalization of $199.29 billion, a PE ratio of 29.127 and a beta of 0.86. Pfizer has a 52-week low of $28.25 and a 52-week high of $37.39. The stock has a 50 day moving average price of $34.08 and a 200 day moving average price of $34.25.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. Pfizer had a net margin of 14.88% and a return on equity of 23.37%. The company earned $13.10 billion during the quarter, compared to analysts’ expectations of $13.01 billion. During the same period last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts expect that Pfizer will post $2.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Tuesday, November 8th. Pfizer’s payout ratio is currently 95.24%.
Several large investors have recently added to or reduced their stakes in PFE. Emerald Acquisition Ltd. bought a new stake in Pfizer during the second quarter valued at $555,074,000. Franklin Resources Inc. increased its stake in shares of Pfizer by 16.7% in the first quarter. Franklin Resources Inc. now owns 62,902,993 shares of the biopharmaceutical company’s stock worth $1,864,446,000 after buying an additional 9,005,107 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Pfizer during the first quarter worth $242,144,000. Vanguard Group Inc. increased its stake in shares of Pfizer by 1.6% in the second quarter. Vanguard Group Inc. now owns 383,339,513 shares of the biopharmaceutical company’s stock worth $13,497,386,000 after buying an additional 6,193,821 shares in the last quarter. Finally, Eaton Vance Management increased its stake in shares of Pfizer by 154.8% in the second quarter. Eaton Vance Management now owns 9,636,949 shares of the biopharmaceutical company’s stock worth $339,317,000 after buying an additional 5,854,244 shares in the last quarter. 69.66% of the stock is owned by institutional investors.
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
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