JPMorgan Chase & Co. Reaffirms $37.66 Rating for Pfizer (PFE)

JPMorgan Chase & Co. reissued their $37.66 rating on shares of Pfizer (NYSE:PFE) in a research report sent to investors on Wednesday morning.

A number of other analysts have also recently issued reports on the company. Cantor Fitzgerald set a $45.00 target price on Pfizer and gave the stock a buy rating in a report on Wednesday. Jefferies Financial Group set a $39.00 target price on Pfizer and gave the company a hold rating in a research report on Sunday. Zacks Investment Research lowered Pfizer from a buy rating to a hold rating in a research report on Sunday. Credit Suisse Group set a $39.00 target price on Pfizer and gave the company a neutral rating in a research report on Thursday, July 12th. Finally, Morgan Stanley reaffirmed a buy rating and issued a $43.00 target price on shares of Pfizer in a research report on Monday, June 11th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. Pfizer presently has a consensus rating of Hold and a consensus target price of $40.32.

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Pfizer traded down $0.29, reaching $37.37, on Wednesday, MarketBeat Ratings reports. The company’s stock had a trading volume of 427,555 shares, compared to its average volume of 17,723,540. Pfizer has a 1-year low of $32.32 and a 1-year high of $39.43. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45. The stock has a market cap of $224.13 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.87 and a beta of 0.93.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, May 1st. The biopharmaceutical company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $12.91 billion for the quarter, compared to analyst estimates of $13.14 billion. Pfizer had a net margin of 41.29% and a return on equity of 25.29%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. sell-side analysts forecast that Pfizer will post 2.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 3rd will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, August 2nd. Pfizer’s dividend payout ratio is presently 51.32%.

In other Pfizer news, CEO Ian C. Read sold 132,312 shares of the stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $36.01, for a total value of $4,764,555.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ian C. Read sold 486,753 shares of the stock in a transaction on Monday, July 16th. The stock was sold at an average price of $37.36, for a total value of $18,185,092.08. Following the completion of the sale, the chief executive officer now directly owns 1,145,693 shares in the company, valued at $42,803,090.48. The disclosure for this sale can be found here. Insiders sold 643,288 shares of company stock worth $23,832,314 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in PFE. BlackRock Inc. lifted its holdings in shares of Pfizer by 2.8% during the fourth quarter. BlackRock Inc. now owns 452,745,609 shares of the biopharmaceutical company’s stock valued at $16,398,445,000 after purchasing an additional 12,183,218 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Pfizer by 29,164.7% in the 4th quarter. Mackenzie Financial Corp now owns 11,481,988 shares of the biopharmaceutical company’s stock worth $415,878,000 after acquiring an additional 11,442,753 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Pfizer by 81.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 19,093,990 shares of the biopharmaceutical company’s stock worth $691,583,000 after acquiring an additional 8,563,358 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Pfizer by 11.9% in the 4th quarter. Bank of New York Mellon Corp now owns 70,738,885 shares of the biopharmaceutical company’s stock worth $2,562,162,000 after acquiring an additional 7,534,957 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Pfizer by 46.6% in the 4th quarter. American Century Companies Inc. now owns 22,539,888 shares of the biopharmaceutical company’s stock worth $816,395,000 after acquiring an additional 7,161,892 shares in the last quarter. 69.47% of the stock is owned by institutional investors and hedge funds.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.

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