Sound Shore Management Inc. CT Raises Stock Holdings in Pfizer Inc. (NYSE:PFE)

Sound Shore Management Inc. CT grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,836,057 shares of the biopharmaceutical company’s stock after acquiring an additional 279,825 shares during the quarter. Pfizer comprises about 2.6% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 18th biggest holding. Sound Shore Management Inc. CT owned 0.05% of Pfizer worth $79,353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PFE. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Pfizer during the 4th quarter valued at $16,166,000. LGT Group Foundation lifted its holdings in Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after acquiring an additional 18,274 shares during the period. ORG Partners LLC lifted its holdings in Pfizer by 1,729.9% in the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after acquiring an additional 44,458 shares during the period. Kempner Capital Management Inc. bought a new stake in shares of Pfizer during the 1st quarter valued at about $2,439,000. Finally, Leo Wealth LLC bought a new stake in shares of Pfizer during the 4th quarter valued at about $2,171,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Down 0.8 %

Pfizer stock opened at $29.42 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm’s 50 day moving average price is $29.36 and its 200-day moving average price is $28.22. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.11. The stock has a market cap of $166.71 billion, a P/E ratio of -490.25, a PEG ratio of 1.05 and a beta of 0.68.

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

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a dividend of $0.42 per share. 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 5.71%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PFE shares. UBS Group raised their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays boosted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, September 16th. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer 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.