Edgestream Partners L.P. Raises Stake in Pfizer Inc. (NYSE:PFE)

Edgestream Partners L.P. boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1,704.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 157,967 shares of the biopharmaceutical company’s stock after buying an additional 149,212 shares during the quarter. Edgestream Partners L.P.’s holdings in Pfizer were worth $4,420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PFE. Olistico Wealth LLC acquired a new position in Pfizer during the second quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer in the 2nd quarter valued at about $29,000. Creekmur Asset Management LLC purchased a new stake in shares of Pfizer in the fourth quarter worth about $32,000. Trivant Custom Portfolio Group LLC grew its holdings in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the 2nd quarter worth approximately $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on PFE shares. Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group increased their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Performance

Pfizer stock opened at $29.83 on Wednesday. The firm has a 50 day simple moving average of $29.30 and a 200-day simple moving average of $28.18. The stock has a market cap of $169.04 billion, a price-to-earnings ratio of -497.08, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.12.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (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 company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Pfizer Company 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.