Pfizer (PFE) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Pfizer (NYSE:PFE) from a hold rating to a buy rating in a report published on Tuesday morning.

A number of other equities research analysts also recently weighed in on the company. Morningstar set a $46.00 price objective on Pfizer and gave the company a neutral rating in a research report on Tuesday. Cantor Fitzgerald set a $45.00 price objective on Pfizer and gave the company a buy rating in a research report on Thursday, October 4th. Independent Research set a $48.00 price objective on Pfizer and gave the company a neutral rating in a research report on Thursday, October 4th. JPMorgan Chase & Co. set a $46.00 price objective on Pfizer and gave the company a buy rating in a research report on Monday, October 1st. Finally, Barclays reaffirmed a neutral rating and set a $40.00 price objective on shares of Pfizer in a research report on Wednesday, September 26th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. Pfizer has an average rating of Hold and a consensus price target of $42.40.

Shares of PFE stock opened at $43.78 on Tuesday. Pfizer has a 1-year low of $33.20 and a 1-year high of $45.81. The stock has a market cap of $262.34 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.23 and a beta of 0.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 1.16.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.30 billion. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Pfizer will post 2.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, November 8th. Pfizer’s dividend payout ratio is presently 51.32%.

In related news, CEO Ian C. Read sold 486,753 shares of Pfizer stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $37.36, for a total transaction of $18,185,092.08. Following the completion of the sale, the chief executive officer now owns 1,145,693 shares of the company’s stock, valued at $42,803,090.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander R. Mackenzie sold 25,642 shares of Pfizer stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $39.51, for a total value of $1,013,115.42. Following the sale, the insider now directly owns 127,954 shares of the company’s stock, valued at approximately $5,055,462.54. The disclosure for this sale can be found here. In the last three months, insiders sold 761,230 shares of company stock valued at $29,054,690. Corporate insiders own 0.06% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Pfizer by 1.5% during the first quarter. BlackRock Inc. now owns 459,530,944 shares of the biopharmaceutical company’s stock worth $16,308,754,000 after purchasing an additional 6,785,335 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Pfizer by 0.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 61,881,280 shares of the biopharmaceutical company’s stock worth $2,245,053,000 after purchasing an additional 160,730 shares during the period. Morgan Stanley lifted its holdings in shares of Pfizer by 2.5% during the second quarter. Morgan Stanley now owns 54,367,234 shares of the biopharmaceutical company’s stock worth $1,972,442,000 after purchasing an additional 1,345,528 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Pfizer by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 54,233,658 shares of the biopharmaceutical company’s stock worth $1,967,651,000 after purchasing an additional 7,059,171 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Pfizer by 4.4% during the second quarter. Fisher Asset Management LLC now owns 39,445,117 shares of the biopharmaceutical company’s stock worth $1,431,069,000 after purchasing an additional 1,671,311 shares during the period. 68.95% of the stock is owned by hedge funds and other institutional investors.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.

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