Asset Management Group Inc. Buys 683 Shares of Pfizer Inc. (NYSE:PFE)

Asset Management Group Inc. increased its position in shares of Pfizer Inc. (NYSE:PFE) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,003 shares of the biopharmaceutical company’s stock after purchasing an additional 683 shares during the period. Asset Management Group Inc.’s holdings in Pfizer were worth $1,427,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Olistico Wealth LLC acquired a new position in shares of Pfizer in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the second quarter worth $29,000. Creekmur Asset Management LLC bought a new position in shares of Pfizer during the fourth quarter valued at $32,000. Trivant Custom Portfolio Group LLC grew its holdings in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the 2nd quarter worth about $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Performance

Shares of PFE stock opened at $29.42 on Friday. The stock has a 50-day moving average of $29.36 and a 200-day moving average of $28.22. Pfizer Inc. has a one year low of $25.20 and a one year high of $34.11. The stock has a market cap of $166.71 billion, a PE ratio of -490.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. As a group, sell-side analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PFE. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, September 16th. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, 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.