Pfizer Inc. (PFE) Given “Buy” Rating at Bank of America Corp.
Bank of America Corp. reaffirmed their buy rating on shares of Pfizer Inc. (NYSE:PFE) in a research note released on Tuesday morning. They currently have a $40.00 target price on the biopharmaceutical company’s stock.
Other equities analysts have also issued research reports about the company. Jefferies Group set a $41.50 price target on Pfizer and gave the stock a buy rating in a research report on Thursday, July 14th. Vetr lowered Pfizer from a strong-buy rating to a buy rating and set a $37.28 price target for the company. in a research report on Tuesday, June 28th. Deutsche Bank AG reaffirmed a buy rating on shares of Pfizer in a research report on Wednesday, June 15th. JPMorgan Chase & Co. set a $40.00 price target on Pfizer and gave the stock a buy rating in a research report on Monday, July 25th. Finally, BMO Capital Markets reiterated a buy rating and issued a $40.00 price objective on shares of Pfizer in a report on Thursday, July 21st. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $38.78.
Pfizer (NYSE:PFE) opened at 33.83 on Tuesday. The stock has a 50 day moving average of $34.60 and a 200-day moving average of $34.02. Pfizer has a 12 month low of $28.25 and a 12 month high of $37.39. The firm has a market cap of $205.20 billion, a P/E ratio of 29.99 and a beta of 0.87.
Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm earned $13.10 billion during the quarter, compared to analyst estimates of $13.01 billion. Pfizer had a return on equity of 23.37% and a net margin of 14.88%. Pfizer’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. Equities research analysts predict that Pfizer will post $2.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.55%. The ex-dividend date is Tuesday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 95.24%.
Institutional investors have recently made changes to their positions in the stock. Nelson Roberts Investment Advisors LLC increased its position in Pfizer by 6.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,999 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 189 shares during the last quarter. Stelac Advisory Services LLC purchased a new position in Pfizer during the second quarter worth about $110,000. Tuttle Tactical Management LLC purchased a new position in Pfizer during the second quarter worth about $117,000. Catamount Wealth Management increased its position in Pfizer by 14.2% in the first quarter. Catamount Wealth Management now owns 4,395 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 545 shares during the last quarter. Finally, Delphi Private Advisors LLC increased its position in Pfizer by 1.2% in the second quarter. Delphi Private Advisors LLC now owns 4,007 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 47 shares during the last quarter. 69.65% of the stock is currently 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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