IQ EQ FUND MANAGEMENT IRELAND Ltd Has $7.42 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in Pfizer Inc. (NYSE:PFE) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 256,460 shares of the biopharmaceutical company’s stock after buying an additional 23,928 shares during the quarter. Pfizer accounts for about 0.8% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings, making the stock its 29th biggest position. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Pfizer were worth $7,422,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in PFE. Massachusetts Financial Services Co. MA increased its stake in shares of Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Pfizer by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Pfizer by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after purchasing an additional 238,850 shares during the last quarter. Finally, Thornburg Investment Management Inc. increased its stake in shares of Pfizer by 10.3% during the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after purchasing an additional 912,156 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Thursday, October 3rd. UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays upped their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.10.

Pfizer Price Performance

Shares of Pfizer stock opened at $29.66 on Thursday. 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 fifty-two week low of $25.20 and a fifty-two week high of $33.19. The firm has a fifty day moving average price of $29.04 and a two-hundred day moving average price of $28.42. The company has a market cap of $168.07 billion, a PE ratio of -494.33, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the prior year, the firm earned $0.67 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) 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.