Pfizer Inc. (NYSE:PFE) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 49,740,738 shares, a drop of 16.6% from the December 14th total of 59,611,012 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 30,670,201 shares, the short-interest ratio is presently 1.6 days.
PFE has been the subject of several research analyst reports. Cantor Fitzgerald set a $45.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Barclays reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Pfizer in a research report on Wednesday, September 26th. Morningstar set a $46.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Thursday, September 27th. JPMorgan Chase & Co. set a $46.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Monday, October 1st. Finally, Independent Research set a $48.00 target price on shares of Pfizer and gave the stock a “neutral” rating in a research report on Thursday, October 4th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the stock. Pfizer presently has an average rating of “Hold” and a consensus target price of $43.67.
Several institutional investors have recently modified their holdings of PFE. Advocacy Wealth Management Services LLC increased its stake in Pfizer by 48.2% during the 4th quarter. Advocacy Wealth Management Services LLC now owns 793 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 258 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in Pfizer by 182.6% during the 4th quarter. Contravisory Investment Management Inc. now owns 1,153 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 745 shares in the last quarter. Vestor Capital LLC bought a new stake in Pfizer during the 3rd quarter valued at about $53,000. Arlington Partners LLC increased its stake in Pfizer by 64.7% during the 4th quarter. Arlington Partners LLC now owns 2,141 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 841 shares in the last quarter. Finally, Highwater Wealth Management LLC bought a new stake in Pfizer during the 4th quarter valued at about $123,000. Institutional investors own 69.21% of the company’s stock.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.53 billion. Pfizer had a net margin of 44.63% and a return on equity of 25.26%. Pfizer’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.67 EPS. Equities research analysts expect that Pfizer will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.37%. This is a positive change from Pfizer’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, January 31st. Pfizer’s dividend payout ratio (DPR) is presently 51.32%.
Pfizer declared that its Board of Directors has initiated a stock buyback program on Friday, December 14th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
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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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