Guggenheim Lowers Pfizer (NYSE:PFE) Price Target to $33.00

Pfizer (NYSE:PFE) had its target price reduced by Guggenheim from $35.00 to $33.00 in a research report report published on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the biopharmaceutical company’s stock.

PFE has been the subject of several other research reports. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Wolfe Research initiated coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Finally, Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.43.

Pfizer Stock Up 0.8 %

PFE stock opened at $25.58 on Wednesday. The business has a 50 day moving average of $27.17 and a 200 day moving average of $28.27. The firm has a market cap of $144.96 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. Pfizer has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the previous year, the firm earned ($0.17) EPS. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, research analysts forecast that Pfizer will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pfizer

Several large investors have recently added to or reduced their stakes in PFE. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer during the 2nd quarter valued at $29,000. Gladius Capital Management LP lifted its position 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 acquiring an additional 38,015 shares in the last quarter. Quarry LP bought a new position in shares of Pfizer in the second quarter worth about $31,000. Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the second quarter worth about $34,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Pfizer during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors 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.