Pfizer (NYSE:PFE) Given New $29.00 Price Target at Citigroup

Pfizer (NYSE:PFE) had its price target trimmed by Citigroup from $30.00 to $29.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial dropped their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Guggenheim dropped their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Bank of America reaffirmed a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Price Performance

Shares of Pfizer stock opened at $26.79 on Tuesday. Pfizer has a 52-week low of $24.48 and a 52-week high of $31.54. The stock has a market capitalization of $151.79 billion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The company has a fifty day moving average of $26.15 and a 200-day moving average of $27.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Equities research analysts expect that Pfizer will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PFE. Retirement Wealth Solutions LLC purchased a new position in Pfizer during the 4th quarter valued at about $26,000. Gladius Capital Management LP raised its holdings in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares during the last quarter. Quarry LP purchased a new position in Pfizer in the second quarter worth about $31,000. Teachers Insurance & Annuity Association of America purchased a new position in Pfizer in the third quarter worth about $35,000. Finally, Joseph Group Capital Management raised its holdings in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 771 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

About Pfizer

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.