Pfizer Inc. (NYSE:PFE) – Research analysts at SunTrust Banks increased their FY2018 earnings estimates for shares of Pfizer in a research note issued to investors on Monday. SunTrust Banks analyst J. Boris now expects that the biopharmaceutical company will earn $2.97 per share for the year, up from their previous forecast of $2.89. SunTrust Banks has a “Hold” rating and a $40.00 price target on the stock. SunTrust Banks also issued estimates for Pfizer’s FY2019 earnings at $3.06 EPS, FY2020 earnings at $3.19 EPS, FY2021 earnings at $3.41 EPS and FY2022 earnings at $3.64 EPS.
PFE has been the subject of a number of other research reports. BMO Capital Markets set a $37.00 price target on shares of Pfizer and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Deutsche Bank set a $38.00 price objective on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Barclays set a $38.00 price objective on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Finally, Jefferies Group set a $39.00 price objective on Pfizer and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $39.45.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. Pfizer had a net margin of 40.55% and a return on equity of 26.86%. The business had revenue of $13.70 billion during the quarter, compared to the consensus estimate of $13.67 billion. During the same quarter last year, the company earned $0.47 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in the stock. Woodstock Corp grew its stake in Pfizer by 2.2% during the 2nd quarter. Woodstock Corp now owns 153,625 shares of the biopharmaceutical company’s stock valued at $5,160,000 after acquiring an additional 3,280 shares in the last quarter. BTR Capital Management Inc. grew its stake in Pfizer by 4.6% during the 2nd quarter. BTR Capital Management Inc. now owns 257,780 shares of the biopharmaceutical company’s stock valued at $8,659,000 after acquiring an additional 11,243 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in Pfizer by 499.4% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 972,122 shares of the biopharmaceutical company’s stock valued at $32,654,000 after acquiring an additional 809,933 shares in the last quarter. Abner Herrman & Brock LLC lifted its holdings in shares of Pfizer by 3.1% during the 2nd quarter. Abner Herrman & Brock LLC now owns 19,042 shares of the biopharmaceutical company’s stock valued at $640,000 after buying an additional 577 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Pfizer by 0.6% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 36,206 shares of the biopharmaceutical company’s stock valued at $1,216,000 after buying an additional 225 shares during the last quarter. 69.87% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the sale, the insider now directly owns 103,458 shares in the company, valued at $3,827,946. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of Pfizer stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.07, for a total value of $296,560.00. Following the transaction, the executive vice president now directly owns 46,963 shares in the company, valued at $1,740,918.41. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be paid a dividend of $0.34 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Thursday, February 1st. Pfizer’s payout ratio is currently 38.64%.
Pfizer announced that its Board of Directors has initiated a stock buyback plan on Monday, December 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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