Sanford C. Bernstein Analysts Give Pfizer Inc. (PFE) a $36.00 Price Target
Pfizer Inc. (NYSE:PFE) has been assigned a $36.00 target price by equities researchers at Sanford C. Bernstein in a note issued to investors on Wednesday. The brokerage presently has a a “buy” rating on the biopharmaceutical company’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 10.13% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Jefferies Group set a $40.00 price objective on Pfizer and gave the stock a “buy” rating in a research note on Monday, August 1st. Piper Jaffray Cos. set a $54.00 price objective on Pfizer and gave the stock a “buy” rating in a research note on Monday, July 25th. JPMorgan Chase & Co. set a $40.00 price objective on Pfizer and gave the stock a “buy” rating in a research note on Monday, July 25th. BMO Capital Markets reaffirmed a “buy” rating and set a $40.00 price objective on shares of Pfizer in a research note on Thursday, July 21st. Finally, Vetr cut Pfizer from a “strong-buy” rating to a “buy” rating and set a $37.28 price objective for the company. in a research note on Tuesday, June 28th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Pfizer presently has an average rating of “Buy” and an average price target of $38.55.
Pfizer (NYSE:PFE) traded down 0.229% during midday trading on Wednesday, hitting $32.615. The stock had a trading volume of 1,473,200 shares. The stock has a 50-day moving average of $33.89 and a 200-day moving average of $34.37. Pfizer has a 52 week low of $28.25 and a 52 week high of $37.39. The firm has a market cap of $197.83 billion, a P/E ratio of 28.914 and a beta of 0.86.
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Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Pfizer had a return on equity of 23.37% and a net margin of 14.88%. The business earned $13.10 billion during the quarter, compared to analysts’ expectations of $13.01 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts forecast that Pfizer will post $2.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.67%. Pfizer’s dividend payout ratio (DPR) is currently 95.24%.
Institutional investors have recently made changes to their positions in the company. Delta Asset Management LLC TN increased its stake in shares of Pfizer by 4.4% in the first quarter. Delta Asset Management LLC TN now owns 44,561 shares of the biopharmaceutical company’s stock worth $1,321,000 after buying an additional 1,881 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in shares of Pfizer during the first quarter worth about $2,651,000. First Manhattan Co. increased its stake in shares of Pfizer by 127.5% in the first quarter. First Manhattan Co. now owns 8,335,663 shares of the biopharmaceutical company’s stock worth $247,069,000 after buying an additional 4,671,057 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Pfizer during the first quarter worth about $1,942,000. Finally, Forte Capital LLC ADV increased its stake in shares of Pfizer by 0.4% in the first quarter. Forte Capital LLC ADV now owns 8,589 shares of the biopharmaceutical company’s stock worth $255,000 after buying an additional 36 shares in the last quarter. Institutional investors own 69.66% of the company’s stock.
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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