Today: The Pfizer Inc. (PFE) Rating Decreased to Market Perform at BMO Capital Markets

The Pfizer Inc. (PFE) Rating Decreased to Market Perform at BMO Capital Markets

Pfizer Inc. (NYSE:PFE) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday. They currently have a $33.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $40.00. BMO Capital Markets’ target price would indicate a potential upside of 4.13% from the company’s current price.

Several other equities analysts have also issued reports on PFE. Jefferies Group set a $41.50 target price on Pfizer and gave the stock a “buy” rating in a research note on Thursday, July 14th. Vetr downgraded Pfizer from a “buy” rating to a “hold” rating and set a $37.97 price target on the stock. in a report on Thursday, July 14th. Zacks Investment Research downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. JPMorgan Chase & Co. set a $40.00 price target on Pfizer and gave the stock a “buy” rating in a report on Monday, July 25th. Finally, Piper Jaffray Cos. set a $54.00 price target on Pfizer and gave the stock a “buy” rating in a report on Monday, July 25th. Thirteen analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $37.73.

Pfizer (NYSE:PFE) traded up 0.86% during midday trading on Wednesday, hitting $31.69. The company had a trading volume of 10,452,948 shares. The company has a market cap of $192.31 billion, a price-to-earnings ratio of 31.82 and a beta of 0.90. Pfizer has a 12 month low of $28.25 and a 12 month high of $37.39. The firm has a 50-day moving average price of $32.01 and a 200-day moving average price of $34.15.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, November 1st. The biopharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Pfizer had a return on equity of 23.68% and a net margin of 13.09%. The firm had revenue of $13.05 billion for the quarter, compared to analyst estimates of $13.05 billion. During the same period in the previous year, the company posted $0.60 EPS. Pfizer’s revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that Pfizer will post $2.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, November 8th. Pfizer’s payout ratio is currently 106.20%.

In related news, insider Albert Bourla sold 18,390 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $30.05, for a total value of $552,619.50. Following the completion of the transaction, the insider now directly owns 149,199 shares of the company’s stock, valued at approximately $4,483,429.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony J. Maddaluna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $33.00, for a total value of $330,000.00. Following the completion of the transaction, the insider now directly owns 112,087 shares of the company’s stock, valued at $3,698,871. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Nelson Roberts Investment Advisors LLC increased its position in Pfizer by 6.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,999 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 189 shares during the last quarter. Stelac Advisory Services LLC bought a new position in Pfizer during the second quarter valued at $110,000. Tuttle Tactical Management LLC bought a new position in Pfizer during the second quarter valued at $117,000. First National Bank Sioux Falls increased its position in Pfizer by 108.2% in the third quarter. First National Bank Sioux Falls now owns 3,367 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 1,750 shares during the last quarter. Finally, Cornerstone Advisors Inc. increased its position in Pfizer by 17.4% in the third quarter. Cornerstone Advisors Inc. now owns 3,650 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 541 shares during the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.

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