LGT Fund Management Co Ltd. Has $11.21 Million Stake in Pfizer Inc. (NYSE:PFE)

LGT Fund Management Co Ltd. grew its position in Pfizer Inc. (NYSE:PFE) by 4,615.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 400,772 shares of the biopharmaceutical company’s stock after buying an additional 392,272 shares during the quarter. Pfizer accounts for about 1.4% of LGT Fund Management Co Ltd.’s portfolio, making the stock its 18th largest holding. LGT Fund Management Co Ltd.’s holdings in Pfizer were worth $11,214,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PFE. Olistico Wealth LLC bought a new stake in Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the 2nd quarter worth $29,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC grew its position in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Pfizer during the second quarter worth about $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

PFE has been the topic of a number of research analyst reports. UBS Group raised their price target 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. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday. Finally, Wells Fargo & Company upped their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a 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. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Trading Up 2.9 %

NYSE:PFE opened at $29.40 on Tuesday. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.62. 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 firm’s fifty day moving average is $29.08 and its 200-day moving average is $28.07. The firm has a market cap of $166.60 billion, a P/E ratio of -489.92, a P/E/G ratio of 1.00 and a beta of 0.68.

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

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.71%. Pfizer’s payout ratio is currently -2,799.53%.

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.