Pfizer (NYSE:PFE) announced that its Board of Directors has authorized a share repurchase plan, which authorizes the company to buyback $10.00 billion in shares on Monday, December 18th, EventVestor reports. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of brokerages recently weighed in on PFE. ValuEngine upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Friday, October 6th. JPMorgan Chase & Co. set a $39.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Wednesday, November 1st. Jefferies Group set a $39.00 price target on shares of Pfizer and gave the company a “neutral” rating in a report on Thursday, November 16th. Nord/LB reissued a “neutral” rating on shares of Pfizer in a research report on Tuesday, January 2nd. Finally, Morgan Stanley set a $41.00 price objective on shares of Pfizer and gave the company a “buy” rating in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Pfizer has a consensus rating of “Hold” and a consensus price target of $38.83.
Shares of Pfizer (NYSE PFE) traded down $0.02 on Friday, hitting $36.54. 19,200,000 shares of the company were exchanged, compared to its average volume of 15,820,000. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.15. The stock has a market capitalization of $217,800.00, a price-to-earnings ratio of 22.42, a P/E/G ratio of 2.44 and a beta of 1.01. Pfizer has a 12-month low of $30.90 and a 12-month high of $37.35.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The company had revenue of $13.17 billion during the quarter, compared to analyst estimates of $13.17 billion. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. Pfizer’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 earnings per share. equities analysts anticipate that Pfizer will post 2.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, February 1st. This is a boost from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio is currently 78.53%.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.00, for a total value of $249,750.00. Following the sale, the insider now owns 103,458 shares of the company’s stock, valued at $3,827,946. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander R. Mackenzie sold 14,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total transaction of $518,910.00. Following the completion of the sale, the insider now directly owns 117,432 shares in the company, valued at approximately $4,145,349.60. The disclosure for this sale can be found here. Insiders have sold 29,450 shares of company stock worth $1,065,220 in the last three months. Corporate insiders own 0.06% of the company’s stock.
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Pfizer Company Profile
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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