Zacks Investment Research upgraded shares of Pfizer Inc. (NYSE:PFE) from a hold rating to a buy rating in a research report released on Sunday morning, AnalystRatings.NET reports. Zacks Investment Research currently has $34.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “Pfizer’s third quarter results surpassed expectations on all fronts with the company raising its outlook yet again. Core products and new products like Ibrance should drive revenues. Meanwhile, the Hospira acquisition has significantly expanded Pfizer's sterile injectable and biosimilar capabilities and has provided the company with a lucrative biosimilar portfolio of both marketed and pipeline assets. Although the company will continue facing headwinds in the form of genericization, unfavorable currency movement and the expiration of a few co-promotion agreements, cost-cutting efforts, the Hospira acquisition and share buybacks should help Pfizer achieve its earnings guidance. The upcoming Allergan deal will drive revenues and boost the pipeline significantly.”

Other hedge funds and institutional investors have recently modified their holdings of the company. Taylor Wealth Management Partners raised its position in shares of Pfizer by 4.3% in the fourth quarter. Taylor Wealth Management Partners now owns 2,555 shares of the biopharmaceutical company’s stock worth $82,000 after buying an additional 105 shares during the last quarter. Ronna Sue Cohen raised its position in shares of Pfizer by 0.4% in the fourth quarter. Ronna Sue Cohen now owns 7,805 shares of the biopharmaceutical company’s stock worth $252,000 after buying an additional 33 shares during the last quarter. Lincoln Capital raised its position in shares of Pfizer by 5.7% in the fourth quarter. Lincoln Capital now owns 8,316 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 446 shares during the last quarter. Vicus Capital raised its position in shares of Pfizer by 17.6% in the fourth quarter. Vicus Capital now owns 8,547 shares of the biopharmaceutical company’s stock worth $276,000 after buying an additional 1,282 shares during the last quarter. Finally, First Hawaiian Bank raised its position in shares of Pfizer by 4.9% in the fourth quarter. First Hawaiian Bank now owns 9,140 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 429 shares during the last quarter.

Pfizer (NYSE:PFE) traded up 0.96% during mid-day trading on Friday, hitting $30.49. 56,730,809 shares of the stock were exchanged. The stock has a market cap of $188.21 billion and a price-to-earnings ratio of 22.89. The company has a 50 day moving average price of $31.56 and a 200 day moving average price of $33.11. Pfizer has a 52 week low of $28.47 and a 52 week high of $36.46.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 2nd. Investors of record on Friday, February 5th will be paid a $0.30 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, February 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.94%.

PFE has been the topic of several other research reports. Cowen and Company lifted their target price on Pfizer from $34.00 to $35.00 and gave the company a market perform rating in a research note on Monday, November 2nd. JPMorgan Chase & Co. lifted their target price on Pfizer from $36.00 to $38.00 and gave the company an outperform rating in a research note on Monday, November 2nd. Nord/LB reaffirmed a buy rating on shares of Pfizer in a research note on Tuesday, January 26th. Independent Research GmbH reaffirmed a neutral rating and set a $38.00 target price on shares of Pfizer in a research note on Wednesday, October 28th. Finally, Deutsche Bank lifted their target price on Pfizer from $41.00 to $43.00 and gave the company a buy rating in a research note on Wednesday, October 28th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $39.78.

Pfizer Inc. is a global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its products include Lyrica, the Prevnar family of products, Enbrel, Celebrex, Lipitor, Viagra, Zyvox, Sutent, EpiPen, Toviaz, Tygacil, Rapamune, Xalkori, Inlyta, Norvasc, BeneFIX, Genotropin and Enbrel, among others. It operates in three segments: Global Innovative Pharmaceutical segment (NYSE:PFE), Global Vaccines, Oncology and Consumer Healthcare segment (VOC) and Global Established Pharmaceutical segment (GEP). GIP is focused on developing, registering and commercializing medications in therapeutic areas, such as inflammation, cardiovascular/metabolic, neuroscience and pain, rare diseases and women’s/men’s health. VOC focuses on the development and commercialization of vaccines and products for oncology and consumer healthcare. GEP includes its sterile injectable products and bio similar development portfolio. Its subsidiary is Hospira, Inc.

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