Magnolia Capital Advisors LLC Invests $409,000 in Pfizer Inc. (NYSE:PFE)

Magnolia Capital Advisors LLC purchased a new position in shares of Pfizer Inc. (NYSE:PFE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,609 shares of the biopharmaceutical company’s stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFE. Wellington Management Group LLP increased 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 buying an additional 11,099,024 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after buying an additional 8,378,173 shares during the last quarter. Swedbank AB acquired a new stake in shares of Pfizer during the 1st quarter worth approximately $172,902,000. Pzena Investment Management LLC increased its holdings in shares of Pfizer by 181.6% during the 1st 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 last quarter. Finally, FIL Ltd increased 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 worth $218,301,000 after buying an additional 3,734,595 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PFE. Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, September 16th. Finally, Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

NYSE:PFE opened at $28.94 on Tuesday. The company has a fifty day simple moving average of $29.29 and a two-hundred day simple moving average of $28.30. The company has a market cap of $163.96 billion, a price-to-earnings ratio of -482.25, a price-to-earnings-growth ratio of 1.27 and a beta of 0.68. The company has a quick ratio of 0.60, a current ratio of 0.86 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.

Pfizer (NYSE:PFE) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’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 EPS. As a group, equities analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

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.