Gradient Investments LLC raised its position in Pfizer Inc. (NYSE:PFE – Get Rating) by 15.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,165 shares of the biopharmaceutical company’s stock after purchasing an additional 2,993 shares during the quarter. Gradient Investments LLC’s holdings in Pfizer were worth $1,162,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Worth Asset Management LLC acquired a new stake in shares of Pfizer in the 1st quarter valued at about $29,000. Rinkey Investments acquired a new stake in shares of Pfizer in the fourth quarter valued at about $32,000. Stuart Chaussee & Associates Inc. increased its position in shares of Pfizer by 108.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 625 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 325 shares during the last quarter. Advanced Research Investment Solutions LLC increased its position in shares of Pfizer by 339.3% in the first quarter. Advanced Research Investment Solutions LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 509 shares during the last quarter. Finally, Bivin & Associates Inc. acquired a new stake in shares of Pfizer in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 67.90% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on PFE. Berenberg Bank set a $44.00 price target on Pfizer in a research report on Wednesday, September 14th. SVB Leerink lowered their price target on Pfizer from $55.00 to $53.00 and set a “market perform” rating on the stock in a research report on Friday, July 29th. JPMorgan Chase & Co. set a $57.00 price target on Pfizer in a research report on Tuesday, June 28th. UBS Group set a $59.00 price objective on Pfizer in a report on Thursday, September 1st. Finally, The Goldman Sachs Group set a $50.00 price objective on Pfizer in a report on Thursday, September 1st. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $57.00.
Pfizer Stock Down 1.3 %
Pfizer (NYSE:PFE – Get Rating) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.09. The firm had revenue of $27.74 billion during the quarter, compared to analysts’ expectations of $26.20 billion. Pfizer had a return on equity of 43.18% and a net margin of 28.92%. The company’s quarterly revenue was up 46.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 earnings per share. Equities analysts expect that Pfizer Inc. will post 6.54 earnings per share for the current fiscal year.
Pfizer Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Wednesday, June 29th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, July 28th. This represents a $1.60 annualized dividend and a dividend yield of 3.52%. Pfizer’s payout ratio is currently 31.31%.
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.
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