Cheviot Value Management LLC Acquires 22,112 Shares of Pfizer Inc. (NYSE:PFE)

Cheviot Value Management LLC raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 427,539 shares of the biopharmaceutical company’s stock after purchasing an additional 22,112 shares during the period. Pfizer makes up approximately 2.3% of Cheviot Value Management LLC’s portfolio, making the stock its 16th biggest holding. Cheviot Value Management LLC’s holdings in Pfizer were worth $11,963,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PFE. Wellington Management Group LLP boosted its stake in shares of Pfizer by 4.9% in 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. Massachusetts Financial Services Co. MA boosted its stake in shares of Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after buying an additional 290,760 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after buying an additional 470,003 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Pfizer by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after purchasing an additional 238,850 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 0.4 %

Shares of NYSE:PFE opened at $29.31 on Tuesday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.11. The firm has a fifty day moving average of $29.36 and a 200 day moving average of $28.26. The firm has a market capitalization of $166.09 billion, a PE ratio of -488.42, a price-to-earnings-growth 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.

Pfizer (NYSE:PFE) last announced its 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. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company 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 business earned $0.67 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.73%. Pfizer’s payout ratio is -2,799.53%.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of analyst reports. Wells Fargo & Company boosted 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. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Monday, September 16th. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised shares of 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 report on Wednesday, August 7th. Finally, Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus price target 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.