Sara Bay Financial Raises Holdings in Pfizer Inc. (NYSE:PFE)

Sara Bay Financial boosted its position in Pfizer Inc. (NYSE:PFE) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,644 shares of the biopharmaceutical company’s stock after acquiring an additional 1,295 shares during the quarter. Sara Bay Financial’s holdings in Pfizer were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Pfizer during the 4th quarter worth approximately $2,129,927,000. Wellington Management Group LLP increased its position in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pfizer by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after acquiring an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after purchasing an additional 8,298,920 shares during the period. Finally, Swedbank AB acquired a new stake in Pfizer in the 1st quarter valued at $172,902,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday. BMO Capital Markets reissued an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Eight equities 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 stock. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Up 1.8 %

Shares of Pfizer stock traded up $0.52 during trading on Monday, reaching $28.82. The company had a trading volume of 26,369,343 shares, compared to its average volume of 39,486,148. The company has a market cap of $163.28 billion, a price-to-earnings ratio of -479.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.69. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.19. The firm’s fifty day moving average is $28.75 and its 200-day moving average is $27.91. 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 quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. On average, analysts anticipate that Pfizer Inc. will post 2.68 EPS for the current year.

Pfizer Announces Dividend

The firm also recently disclosed 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. This represents a $1.68 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,800.00%.

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.