NBC Securities Inc. Boosts Holdings in Pfizer Inc. (NYSE:PFE)

NBC Securities Inc. lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 61,834 shares of the biopharmaceutical company’s stock after acquiring an additional 407 shares during the period. NBC Securities Inc.’s holdings in Pfizer were worth $1,789,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PFE. Massachusetts Financial Services Co. MA increased its stake in Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after acquiring an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp increased its position in 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 in the last quarter. Federated Hermes Inc. raised its holdings in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after buying an additional 470,003 shares during the period. Envestnet Asset Management Inc. lifted its position in Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after buying an additional 238,850 shares in the last quarter. Finally, Thornburg Investment Management Inc. grew its stake in Pfizer by 10.3% during the second quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after buying an additional 912,156 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Shares of PFE stock opened at $29.46 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market capitalization of $166.94 billion, a price-to-earnings ratio of -491.00, a PEG ratio of 1.30 and a beta of 0.67. Pfizer Inc. has a one year low of $25.20 and a one year high of $33.92. The company’s 50-day simple moving average is $29.02 and its 200-day simple moving average is $28.41.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analyst estimates 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 revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 EPS. Equities analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.70%. Pfizer’s payout ratio is currently -2,800.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PFE shares. Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded 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 report on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their price objective 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 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 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.