Cornerstone Wealth Management LLC Boosts Holdings in Pfizer Inc. (NYSE:PFE)

Cornerstone Wealth Management LLC boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,058 shares of the biopharmaceutical company’s stock after acquiring an additional 8,513 shares during the period. Cornerstone Wealth Management LLC’s holdings in Pfizer were worth $2,016,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Tennessee Valley Asset Management Partners bought a new stake in Pfizer during the 4th quarter valued at about $36,000. Cullen Investment Group LTD. bought a new stake in shares of Pfizer in the fourth quarter worth approximately $1,484,000. Warner Financial Inc. grew its stake in shares of Pfizer by 4.2% in the fourth quarter. Warner Financial Inc. now owns 39,385 shares of the biopharmaceutical company’s stock worth $1,134,000 after acquiring an additional 1,583 shares during the period. Mackenzie Financial Corp grew its stake in shares of Pfizer by 39.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,716,901 shares of the biopharmaceutical company’s stock worth $49,430,000 after acquiring an additional 488,479 shares during the period. Finally, Sippican Capital Advisors grew its stake in shares of Pfizer by 37.7% in the fourth quarter. Sippican Capital Advisors now owns 68,144 shares of the biopharmaceutical company’s stock worth $1,962,000 after acquiring an additional 18,657 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFE has been the topic of a number of research reports. UBS Group raised their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Finally, Barclays lifted their price target 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Price Performance

PFE traded down $0.30 during trading hours on Thursday, hitting $28.58. The company’s stock had a trading volume of 15,614,092 shares, compared to its average volume of 39,417,520. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.19. The stock has a market cap of $161.95 billion, a price-to-earnings ratio of -477.42, a P/E/G ratio of 0.99 and a beta of 0.69. The business’s 50-day moving average price is $28.75 and its 200-day moving average price is $27.88.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion for 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 business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. Sell-side analysts expect that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

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.