Estabrook Capital Management Has $10.10 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Estabrook Capital Management raised its position in Pfizer Inc. (NYSE:PFE) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 361,026 shares of the biopharmaceutical company’s stock after buying an additional 1,148 shares during the period. Pfizer accounts for about 1.6% of Estabrook Capital Management’s investment portfolio, making the stock its 16th biggest position. Estabrook Capital Management’s holdings in Pfizer were worth $10,102,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares during the last quarter. Swedbank AB bought a new position in shares of Pfizer in the first quarter worth about $172,902,000. Pzena Investment Management LLC increased its holdings in shares of Pfizer by 181.6% in the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after purchasing an additional 4,947,000 shares in the last quarter. Ruffer LLP increased its holdings in shares of Pfizer by 248.7% in the fourth quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock valued at $166,837,000 after purchasing an additional 4,133,786 shares in the last quarter. Finally, FIL Ltd raised its position in Pfizer by 97.1% in the 4th quarter. FIL Ltd now owns 7,582,518 shares of the biopharmaceutical company’s stock worth $218,301,000 after purchasing an additional 3,734,595 shares during the last quarter. 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. UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Down 0.8 %

Shares of Pfizer stock opened at $29.42 on Friday. The company has a market capitalization of $166.71 billion, a P/E 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. The business has a 50-day moving average of $29.36 and a two-hundred day moving average of $28.24. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.11.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (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 business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the business earned $0.67 EPS. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Pfizer Inc. will post 2.66 EPS 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 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 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.