Greystone Financial Group LLC Has $6.91 Million Holdings in Pfizer Inc. (NYSE:PFE)

Greystone Financial Group LLC raised its position in Pfizer Inc. (NYSE:PFE) by 19.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 246,845 shares of the biopharmaceutical company’s stock after buying an additional 40,879 shares during the quarter. Greystone Financial Group LLC’s holdings in Pfizer were worth $6,907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Pfizer during the fourth quarter valued at approximately $2,129,927,000. Wellington Management Group LLP lifted its stake in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after buying an additional 8,298,920 shares in the last quarter. Swedbank AB bought a new stake in shares of Pfizer during the first quarter worth $172,902,000. Finally, Pzena Investment Management LLC increased its holdings in shares of Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after buying an additional 4,947,000 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Performance

Shares of PFE stock traded up $0.05 during trading hours on Friday, hitting $28.56. 31,214,484 shares of the company were exchanged, compared to its average volume of 38,328,773. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.64. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $29.06 and a 200 day simple moving average of $28.05. The stock has a market capitalization of $161.84 billion, a price-to-earnings ratio of -476.00, a P/E/G ratio of 1.02 and a beta of 0.68.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Research analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PFE shares. Barclays upped their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. UBS Group lifted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price target 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. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

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.