Pfizer Inc. (NYSE:PFE) Shares Purchased by Wealth Advisors of Tampa Bay LLC

Wealth Advisors of Tampa Bay LLC raised its holdings in Pfizer Inc. (NYSE:PFE) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,439 shares of the biopharmaceutical company’s stock after purchasing an additional 3,800 shares during the period. Pfizer comprises approximately 1.9% of Wealth Advisors of Tampa Bay LLC’s holdings, making the stock its 20th largest holding. Wealth Advisors of Tampa Bay LLC’s holdings in Pfizer were worth $4,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PFE. Trust Investment Advisors acquired a new stake in Pfizer in the second quarter valued at $1,259,000. Ieq Capital LLC increased its position in shares of Pfizer by 15.6% in the 2nd quarter. Ieq Capital LLC now owns 224,636 shares of the biopharmaceutical company’s stock worth $6,285,000 after purchasing an additional 30,388 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Pfizer by 800.9% in the 2nd quarter. Brighton Jones LLC now owns 1,101,586 shares of the biopharmaceutical company’s stock valued at $30,822,000 after purchasing an additional 979,310 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Pfizer by 30.3% during the second quarter. Intech Investment Management LLC now owns 725,663 shares of the biopharmaceutical company’s stock worth $20,304,000 after purchasing an additional 168,724 shares during the last quarter. Finally, Cowa LLC acquired a new position in Pfizer in the second quarter worth about $232,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFE has been the topic of a number of research analyst reports. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

PFE opened at $29.67 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $29.35 and its 200-day moving average is $28.20. The stock has a market cap of $168.13 billion, a PE ratio of -494.42, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.11.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.66%. Pfizer’s dividend payout ratio is presently -2,799.53%.

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.