Milestone Asset Management LLC Raises Holdings in Pfizer Inc. (NYSE:PFE)

Milestone Asset Management LLC increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 154.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,051 shares of the biopharmaceutical company’s stock after purchasing an additional 32,827 shares during the quarter. Milestone Asset Management LLC’s holdings in Pfizer were worth $1,512,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Olistico Wealth LLC purchased a new position in shares of Pfizer in the second quarter valued at approximately $25,000. Creekmur Asset Management LLC purchased a new stake in shares of Pfizer in the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC increased its holdings in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Pfizer during the 4th quarter worth about $36,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in Pfizer during the 4th quarter worth about $37,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Price Performance

NYSE:PFE traded up $0.52 during midday trading on Monday, hitting $28.82. 26,369,343 shares of the stock were exchanged, compared to its average volume of 39,486,148. Pfizer Inc. has a one year low of $25.20 and a one year high of $37.19. The company has a market capitalization of $163.28 billion, a price-to-earnings ratio of -479.33, a P/E/G ratio of 1.00 and a beta of 0.69. The business has a 50-day moving average price of $28.75 and a two-hundred day moving average price of $27.91. 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 (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Pfizer Inc. will post 2.68 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.83%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PFE shares. Morgan Stanley upped their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Monday. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets upgraded 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, BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Eight 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. According to data from MarketBeat.com, Pfizer presently has a consensus 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.