EverSource Wealth Advisors LLC Increases Holdings in Pfizer Inc. (NYSE:PFE)

EverSource Wealth Advisors LLC increased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 33.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,627 shares of the biopharmaceutical company’s stock after purchasing an additional 8,681 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Pfizer were worth $1,058,000 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. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Pfizer in the fourth quarter worth $16,166,000. LGT Group Foundation increased its holdings in Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after acquiring an additional 18,274 shares during the last quarter. ORG Partners LLC lifted its stake in Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares in the last quarter. Kempner Capital Management Inc. bought a new position in shares of Pfizer during the 1st quarter valued at about $2,439,000. Finally, Leo Wealth LLC purchased a new position in shares of Pfizer during the fourth quarter valued at about $2,171,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.8 %

Shares of NYSE:PFE opened at $29.42 on Monday. The firm has a market capitalization of $166.71 billion, a PE ratio of -490.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68. The business has a 50 day simple moving average of $29.36 and a two-hundred day simple moving average of $28.24. 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 posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the business earned $0.67 EPS. Pfizer’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on PFE. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, September 16th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company upped their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, UBS Group lifted their price objective on shares of 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.54.

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.