Pfizer (NYSE:PFE) Given New $28.00 Price Target at Bank of America

Pfizer (NYSE:PFE) had its price objective trimmed by Bank of America from $29.00 to $28.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on PFE. Citigroup initiated coverage on Pfizer in a research report on Tuesday, December 2nd. They issued a “neutral” rating and a $26.00 target price on the stock. HSBC reaffirmed a “buy” rating and issued a $29.00 price target on shares of Pfizer in a report on Wednesday, December 10th. BMO Capital Markets reissued an “outperform” rating on shares of Pfizer in a report on Wednesday, December 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Pfizer in a research note on Wednesday, October 8th. Finally, Scotiabank assumed coverage on shares of Pfizer in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $30.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.22.

Pfizer Stock Performance

Shares of PFE stock opened at $26.45 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.28 and a quick ratio of 0.97. The company’s fifty day moving average price is $25.12 and its two-hundred day moving average price is $24.80. The firm has a market capitalization of $150.37 billion, a P/E ratio of 15.38 and a beta of 0.46. Pfizer has a 12 month low of $20.92 and a 12 month high of $27.69.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Pfizer had a return on equity of 20.17% and a net margin of 15.65%.The business had revenue of $16.65 billion for the quarter, compared to analyst estimates of $16.94 billion. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. On average, research analysts anticipate that Pfizer will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, January 23rd will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, January 23rd. Pfizer’s dividend payout ratio is currently 100.00%.

Hedge Funds Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of Pfizer by 1,282.4% during the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock worth $17,677,000 after acquiring an additional 618,117 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Pfizer by 12.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock valued at $498,000 after purchasing an additional 2,087 shares during the period. Vestmark Advisory Solutions Inc. bought a new position in Pfizer in the 1st quarter worth about $474,000. Algert Global LLC acquired a new stake in shares of Pfizer in the first quarter valued at approximately $2,646,000. Finally, Freestone Capital Holdings LLC raised its holdings in shares of Pfizer by 2.8% during the first quarter. Freestone Capital Holdings LLC now owns 132,187 shares of the biopharmaceutical company’s stock valued at $3,350,000 after buying an additional 3,558 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.