Pfizer Inc. (NYSE:PFE) Shares Acquired by Secure Asset Management LLC

Secure Asset Management LLC increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 58,328 shares of the biopharmaceutical company’s stock after acquiring an additional 353 shares during the period. Secure Asset Management LLC’s holdings in Pfizer were worth $1,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in shares of Pfizer during the second quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the 2nd quarter worth $29,000. Creekmur Asset Management LLC bought a new position in shares of Pfizer in the fourth quarter worth $32,000. Trivant Custom Portfolio Group LLC increased its holdings in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Pfizer during the fourth quarter valued at about $36,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Trading Up 0.4 %

Shares of PFE stock traded up $0.12 during trading hours on Friday, reaching $28.90. 21,855,904 shares of the stock traded hands, compared to its average volume of 39,008,852. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $163.76 billion, a PE ratio of -481.67, a PEG ratio of 0.98 and a beta of 0.69. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $36.94. The business has a fifty day moving average price of $28.85 and a 200 day moving average price of $27.96.

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, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate 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 was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 EPS. On average, equities research analysts forecast 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. Investors of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.81%. The ex-dividend date is Friday, July 26th. Pfizer’s payout ratio is presently -2,800.00%.

Analysts Set New Price Targets

Several equities analysts have commented on PFE shares. BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Wells Fargo & Company raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.