1832 Asset Management L.P. Raises Position in Pfizer Inc. (NYSE:PFE)

1832 Asset Management L.P. raised its holdings in Pfizer Inc. (NYSE:PFE) by 24,961.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,497,886 shares of the biopharmaceutical company’s stock after buying an additional 2,487,919 shares during the period. 1832 Asset Management L.P.’s holdings in Pfizer were worth $69,891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Olistico Wealth LLC purchased a new position in Pfizer in the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth $29,000. Creekmur Asset Management LLC purchased a new stake in shares of Pfizer during the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC lifted its position in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.8 %

NYSE PFE opened at $29.42 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm 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 Inc. has a one year low of $25.20 and a one year high of $34.11. The firm’s fifty day moving average is $29.36 and its two-hundred day moving average is $28.24.

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

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a $0.42 dividend. 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 is presently -2,799.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PFE shares. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. 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 research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, September 16th. Finally, Barclays lifted their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.