Bridges Investment Management Inc. Buys 38,012 Shares of Pfizer Inc. (NYSE:PFE)

Bridges Investment Management Inc. boosted its position in shares of Pfizer Inc. (NYSE:PFE) by 81.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,412 shares of the biopharmaceutical company’s stock after acquiring an additional 38,012 shares during the period. Bridges Investment Management Inc.’s holdings in Pfizer were worth $2,362,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PFE. Gilbert & Cook Inc. boosted its stake in shares of Pfizer by 3.8% in the fourth quarter. Gilbert & Cook Inc. now owns 25,651 shares of the biopharmaceutical company’s stock worth $738,000 after acquiring an additional 945 shares during the period. Gryphon Financial Partners LLC raised its position in shares of Pfizer by 43.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 26,942 shares of the biopharmaceutical company’s stock valued at $861,000 after buying an additional 8,194 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Pfizer in the fourth quarter worth $186,000. SageView Advisory Group LLC boosted its position in shares of Pfizer by 2.2% during the fourth quarter. SageView Advisory Group LLC now owns 45,186 shares of the biopharmaceutical company’s stock worth $1,221,000 after acquiring an additional 973 shares during the last quarter. Finally, TCW Group Inc. grew its stake in Pfizer by 82.7% during the fourth quarter. TCW Group Inc. now owns 205,376 shares of the biopharmaceutical company’s stock valued at $5,913,000 after acquiring an additional 92,970 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.8 %

Shares of NYSE:PFE opened at $29.42 on Friday. The firm has a market capitalization 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 business has a 50 day simple moving average of $29.36 and a two-hundred day simple moving average of $28.22. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.11. 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 posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the business earned $0.67 EPS. Pfizer’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on PFE. Wells Fargo & Company boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Barclays increased their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.54.

About Pfizer

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.