Harmony Asset Management LLC Invests $353,000 in Pfizer Inc. (NYSE:PFE)

Harmony Asset Management LLC purchased a new stake in Pfizer Inc. (NYSE:PFE) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,622 shares of the biopharmaceutical company’s stock, valued at approximately $353,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighVista Strategies LLC purchased a new position in shares of Pfizer in the 2nd quarter worth approximately $1,687,000. Certified Advisory Corp increased its position in Pfizer by 1.6% during the second quarter. Certified Advisory Corp now owns 82,840 shares of the biopharmaceutical company’s stock valued at $2,318,000 after acquiring an additional 1,313 shares during the last quarter. Estabrook Capital Management raised its stake in shares of Pfizer by 0.3% in the second quarter. Estabrook Capital Management now owns 361,026 shares of the biopharmaceutical company’s stock valued at $10,102,000 after acquiring an additional 1,148 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Pfizer by 33.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 34,627 shares of the biopharmaceutical company’s stock worth $1,058,000 after acquiring an additional 8,681 shares during the last quarter. Finally, Fairscale Capital LLC bought a new position in Pfizer during the 2nd quarter valued at about $179,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays increased their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Monday, September 16th. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

Shares of Pfizer stock opened at $29.42 on Monday. Pfizer Inc. has a one year low of $25.20 and a one year high of $34.11. The company has a market capitalization of $166.71 billion, a PE ratio of -490.25, a P/E/G ratio of 1.05 and a beta of 0.68. 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 company has a 50-day simple moving average of $29.36 and a two-hundred day simple moving average of $28.24.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The business 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%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. Research analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

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

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.