Pfizer Inc. (NYSE:PFE) – Equities researchers at SunTrust Banks boosted their Q3 2018 earnings estimates for shares of Pfizer in a research report issued on Wednesday, October 17th, Zacks Investment Research reports. SunTrust Banks analyst J. Boris now expects that the biopharmaceutical company will earn $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 target on the stock. SunTrust Banks also issued estimates for Pfizer’s Q4 2018 earnings at $0.65 EPS.
PFE has been the topic of several other reports. Goldman Sachs Group reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Pfizer in a research note on Tuesday, August 28th. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Independent Research set a $48.00 price objective on shares of Pfizer and gave the stock a “neutral” rating in a research note on Thursday, October 4th. Credit Suisse Group upped their price objective on shares of Pfizer from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. Finally, Barclays reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Pfizer in a research note on Wednesday, September 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.67.
Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. The business 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 25.34%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.36 annualized dividend and a yield of 3.07%. Pfizer’s dividend payout ratio is currently 51.32%.
In related news, insider Laurie J. Olson sold 10,214 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $41.00, for a total value of $418,774.00. Following the transaction, the insider now directly owns 72,672 shares in the company, valued at $2,979,552. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Pfizer Inc bought 55,556 shares of the business’s stock in a transaction on Monday, October 15th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $1,000,008.00. Following the completion of the acquisition, 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. Corporate insiders own 0.06% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PFE. Naples Global Advisors LLC increased its position in shares of Pfizer by 5.4% during the second quarter. Naples Global Advisors LLC now owns 33,695 shares of the biopharmaceutical company’s stock worth $1,222,000 after acquiring an additional 1,712 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Pfizer by 25.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 285,325 shares of the biopharmaceutical company’s stock valued at $10,352,000 after purchasing an additional 57,176 shares in the last quarter. Destination Wealth Management grew its position in Pfizer by 962,667.3% in the second quarter. Destination Wealth Management now owns 500,639 shares of the biopharmaceutical company’s stock valued at $18,163,000 after purchasing an additional 500,587 shares in the last quarter. Gagnon Securities LLC grew its position in Pfizer by 61.1% in the first quarter. Gagnon Securities LLC now owns 14,708 shares of the biopharmaceutical company’s stock valued at $522,000 after purchasing an additional 5,581 shares in the last quarter. Finally, Pennsylvania Trust Co grew its position in Pfizer by 10.9% in the second quarter. Pennsylvania Trust Co now owns 681,255 shares of the biopharmaceutical company’s stock valued at $28,127,000 after purchasing an additional 67,151 shares in the last quarter. Institutional investors own 68.96% of the company’s stock.
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.
Recommended Story: Rule of 72
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.