Pfizer (NYSE:PFE) Given New $30.00 Price Target at Wells Fargo & Company

Pfizer (NYSE:PFE) had its price target upped by Wells Fargo & Company from $28.00 to $30.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the biopharmaceutical company’s stock.

Several other analysts also recently commented on PFE. Cantor Fitzgerald reaffirmed an overweight rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday. Barclays raised their price objective on Pfizer from $28.00 to $30.00 and gave the stock an equal weight rating in a research note on Wednesday, July 10th. UBS Group raised their price objective on Pfizer from $30.00 to $31.00 and gave the stock a neutral rating in a research note on Wednesday. Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the stock an equal weight rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets reiterated an outperform rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $34.58.

Pfizer Stock Performance

PFE stock opened at $30.54 on Wednesday. The business’s fifty day moving average is $28.66 and its 200-day moving average is $27.81. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The company has a market cap of $173.06 billion, a P/E ratio of -508.92, a price-to-earnings-growth ratio of 1.15 and a beta of 0.69. Pfizer has a twelve month low of $25.20 and a twelve month high of $37.19.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.31% and a negative net margin of 4.66%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 EPS. Equities research analysts forecast that Pfizer will post 2.55 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Friday, July 26th. Pfizer’s payout ratio is -2,799.53%.

Hedge Funds Weigh In On Pfizer

Several hedge funds have recently modified their holdings of PFE. Olistico Wealth LLC bought a new position in Pfizer during the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer during the second quarter worth about $29,000. Creekmur Asset Management LLC bought a new position in Pfizer during the fourth quarter worth about $32,000. Trivant Custom Portfolio Group LLC grew its holdings in 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 purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new position in Pfizer during the second quarter worth about $34,000. 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.