Fairscale Capital LLC Invests $179,000 in Pfizer Inc. (NYSE:PFE)

Fairscale Capital LLC bought a new position in shares of Pfizer Inc. (NYSE:PFE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,079 shares of the biopharmaceutical company’s stock, valued at approximately $179,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PFE. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the second quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the 2nd quarter worth $29,000. Creekmur Asset Management LLC purchased a new position in shares of Pfizer in the 4th quarter valued at about $32,000. Trivant Custom Portfolio Group LLC grew its position in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in Pfizer in the second quarter valued at approximately $34,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Pfizer stock opened at $29.42 on Friday. The stock has a fifty day moving average price of $29.36 and a 200 day moving average price of $28.24. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.11. The firm has a market capitalization 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 quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the firm posted $0.67 earnings per share. Pfizer’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share 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 issued a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.71%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PFE shares. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays boosted their price objective 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. Finally, UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Eight 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 stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Company 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.