Summit Trail Advisors LLC Purchases 77,293 Shares of Pfizer Inc. (NYSE:PFE)

Summit Trail Advisors LLC increased its position in shares of Pfizer Inc. (NYSE:PFE) by 132.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,741 shares of the biopharmaceutical company’s stock after buying an additional 77,293 shares during the period. Summit Trail Advisors LLC’s holdings in Pfizer were worth $3,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PFE. FAS Wealth Partners Inc. increased its holdings in Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after purchasing an additional 342 shares in the last quarter. Sachetta LLC increased its stake in Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 342 shares in the last quarter. Ironvine Capital Partners LLC grew its stake in shares of Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 353 shares during the period. Secure Asset Management LLC increased its position in Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its stake in Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PFE. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Eight 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Down 0.8 %

PFE opened at $29.42 on Friday. The business’s fifty day simple moving average is $29.36 and its 200 day simple moving average is $28.22. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.11. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock has a market cap of $166.71 billion, a PE ratio of -490.25, a P/E/G ratio of 1.05 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. As a group, research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

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