Logan Capital Management Inc. Grows Stock Position in Pfizer Inc. (NYSE:PFE)

Logan Capital Management Inc. increased its holdings in Pfizer Inc. (NYSE:PFE) by 5.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 430,689 shares of the biopharmaceutical company’s stock after acquiring an additional 23,334 shares during the period. Logan Capital Management Inc.’s holdings in Pfizer were worth $17,572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BancFirst Trust & Investment Management raised its holdings in Pfizer by 2.3% in the 1st quarter. BancFirst Trust & Investment Management now owns 17,794 shares of the biopharmaceutical company’s stock valued at $719,000 after buying an additional 398 shares during the period. Strategic Investment Advisors MI lifted its holdings in shares of Pfizer by 32.1% in the 1st quarter. Strategic Investment Advisors MI now owns 94,117 shares of the biopharmaceutical company’s stock worth $3,840,000 after acquiring an additional 22,879 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Pfizer by 0.9% during the 1st quarter. State of Michigan Retirement System now owns 1,771,584 shares of the biopharmaceutical company’s stock worth $72,281,000 after purchasing an additional 15,900 shares during the period. MainStreet Investment Advisors LLC increased its holdings in Pfizer by 1.6% in the 1st quarter. MainStreet Investment Advisors LLC now owns 197,477 shares of the biopharmaceutical company’s stock valued at $8,057,000 after purchasing an additional 3,099 shares during the last quarter. Finally, Center For Asset Management LLC raised its position in Pfizer by 28.0% in the first quarter. Center For Asset Management LLC now owns 23,894 shares of the biopharmaceutical company’s stock valued at $975,000 after purchasing an additional 5,228 shares during the period. Institutional investors and hedge funds own 68.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PFE. StockNews.com assumed coverage on Pfizer in a research note on Thursday, August 17th. They issued a “hold” rating for the company. BMO Capital Markets dropped their price objective on shares of Pfizer from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Wednesday, August 2nd. JPMorgan Chase & Co. cut their price target on Pfizer from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, July 17th. Barclays reduced their price objective on shares of Pfizer from $40.00 to $38.00 in a report on Tuesday, July 11th. Finally, Credit Suisse Group downgraded shares of Pfizer from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $47.00 to $40.00 in a research note on Thursday, June 29th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.35.

Pfizer Trading Down 0.1 %

NYSE:PFE opened at $34.25 on Friday. The company has a market capitalization of $193.37 billion, a PE ratio of 9.11, a P/E/G ratio of 1.14 and a beta of 0.59. Pfizer Inc. has a 52-week low of $34.04 and a 52-week high of $54.93. The stock’s 50 day moving average price is $36.01 and its 200 day moving average price is $38.26. The company has a quick ratio of 1.82, a current ratio of 2.12 and a debt-to-equity ratio of 0.62.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Pfizer had a net margin of 27.55% and a return on equity of 28.36%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $13.36 billion. During the same period last year, the firm posted $2.04 earnings per share. The company’s revenue for the quarter was down 54.1% compared to the same quarter last year. On average, research analysts anticipate that Pfizer Inc. will post 3.33 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, July 28th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, July 27th. Pfizer’s dividend payout ratio is currently 43.62%.

Pfizer Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.