Wealth Effects LLC Has $1.93 Million Stake in Pfizer Inc. (NYSE:PFE)

Wealth Effects LLC lifted its holdings in Pfizer Inc. (NYSE:PFE) by 36.4% during the 2nd quarter, Holdings Channel reports. The fund owned 69,074 shares of the biopharmaceutical company’s stock after acquiring an additional 18,436 shares during the quarter. Pfizer makes up approximately 0.7% of Wealth Effects LLC’s portfolio, making the stock its 26th biggest position. Wealth Effects LLC’s holdings in Pfizer were worth $1,933,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PFE. Hodges Capital Management Inc. increased its position in Pfizer by 12.4% in the 2nd quarter. Hodges Capital Management Inc. now owns 13,631 shares of the biopharmaceutical company’s stock valued at $381,000 after acquiring an additional 1,504 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Pfizer by 2.1% during the second quarter. Foundations Investment Advisors LLC now owns 96,169 shares of the biopharmaceutical company’s stock valued at $2,691,000 after purchasing an additional 1,937 shares during the last quarter. Cozad Asset Management Inc. increased its holdings in shares of Pfizer by 1.3% in the second quarter. Cozad Asset Management Inc. now owns 44,417 shares of the biopharmaceutical company’s stock valued at $1,243,000 after purchasing an additional 580 shares in the last quarter. Archer Investment Corp raised its position in Pfizer by 6.2% in the 2nd quarter. Archer Investment Corp now owns 69,003 shares of the biopharmaceutical company’s stock worth $1,931,000 after purchasing an additional 4,012 shares during the last quarter. Finally, Founders Financial Securities LLC lifted its holdings in Pfizer by 18.5% during the 2nd quarter. Founders Financial Securities LLC now owns 16,414 shares of the biopharmaceutical company’s stock worth $459,000 after buying an additional 2,558 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PFE has been the subject of several research reports. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, August 19th. UBS Group boosted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight equities 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. Based on data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Down 0.1 %

NYSE PFE traded down $0.03 during trading hours on Wednesday, reaching $28.27. 3,678,847 shares of the company’s stock were exchanged, compared to its average volume of 38,317,289. 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 Inc. has a one year low of $25.20 and a one year high of $36.29. The company’s 50-day moving average is $29.01 and its two-hundred day moving average is $28.03. The company has a market capitalization of $160.19 billion, a price-to-earnings ratio of -471.67, a price-to-earnings-growth ratio of 1.02 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 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%. The business’s quarterly 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 EPS. On average, analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The company 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. This represents a $1.68 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

Pfizer Profile

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.