Pfizer Inc. (NYSE:PFE) – Analysts at SunTrust Banks increased their Q3 2018 earnings per share estimates for Pfizer in a research note issued on Wednesday, October 17th. SunTrust Banks analyst J. Boris now forecasts that the biopharmaceutical company will post earnings of $0.77 per share for the quarter, up from their prior estimate of $0.75. SunTrust Banks has a “Hold” rating and a $41.00 price objective on the stock. SunTrust Banks also issued estimates for Pfizer’s Q4 2018 earnings at $0.65 EPS.
A number of other research analysts have also weighed in on PFE. Zacks Investment Research raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, July 3rd. Jefferies Financial Group reissued a “neutral” rating and set a $39.00 price target on shares of Pfizer in a research report on Monday, July 9th. JPMorgan Chase & Co. reissued a “buy” rating and set a $42.00 price target on shares of Pfizer in a research report on Wednesday, July 11th. Cantor Fitzgerald set a $45.00 price target on shares of Pfizer and gave the company a “buy” rating in a research report on Wednesday, July 11th. Finally, Credit Suisse Group set a $39.00 price target on shares of Pfizer and gave the company a “neutral” rating in a research report on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.80.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Pfizer had a net margin of 42.35% and a return on equity of 25.35%. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.30 billion. During the same period last year, the firm earned $0.67 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the business. Ballew Advisors Inc purchased a new position in shares of Pfizer in the first quarter worth about $102,000. Fort L.P. purchased a new position in Pfizer during the second quarter valued at approximately $121,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in Pfizer during the first quarter valued at approximately $132,000. Bray Capital Advisors purchased a new position in Pfizer during the first quarter valued at approximately $139,000. Finally, Braun Bostich & Associates Inc. purchased a new position in Pfizer during the first quarter valued at approximately $139,000. 69.05% of the stock is currently owned by institutional investors and hedge funds.
In other Pfizer news, insider Laurie J. Olson sold 10,214 shares of Pfizer stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $41.00, for a total value of $418,774.00. Following the sale, the insider now owns 72,672 shares of the company’s stock, valued at $2,979,552. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Pfizer Inc acquired 55,556 shares of the stock in a transaction on Monday, October 15th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $1,000,008.00. Following the transaction, the insider now owns 21,976,484 shares of the company’s stock, valued at approximately $395,576,712. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 234,096 shares of company stock worth $9,366,617. Insiders own 0.06% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.06%. The ex-dividend date is Thursday, November 8th. Pfizer’s dividend payout ratio is 51.32%.
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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