Frank Rimerman Advisors LLC Raises Holdings in Pfizer Inc. (NYSE:PFE)

Frank Rimerman Advisors LLC raised its position in shares of Pfizer Inc. (NYSE:PFE) by 32,348.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,887 shares of the biopharmaceutical company’s stock after acquiring an additional 101,573 shares during the period. Frank Rimerman Advisors LLC’s holdings in Pfizer were worth $2,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Swedbank AB purchased a new stake in Pfizer during the first quarter worth approximately $172,902,000. Pzena Investment Management LLC grew its stake in Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after buying an additional 4,947,000 shares during the period. Ruffer LLP increased its position 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 worth $166,837,000 after acquiring an additional 4,133,786 shares in the last quarter. Finally, FIL Ltd lifted its holdings in shares of Pfizer by 97.1% during the 4th quarter. FIL Ltd now owns 7,582,518 shares of the biopharmaceutical company’s stock valued at $218,301,000 after acquiring an additional 3,734,595 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of PFE stock opened at $29.42 on Friday. The firm has a fifty day moving average of $29.36 and a two-hundred day moving average of $28.24. The firm has a market cap of $166.71 billion, a P/E ratio of -490.25, a P/E/G ratio of 1.05 and a beta of 0.68. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.11. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the company earned $0.67 earnings per share. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.71%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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.