Burke & Herbert Bank & Trust Co. Acquires 30,647 Shares of Pfizer Inc. (NYSE:PFE)

Burke & Herbert Bank & Trust Co. lifted its holdings in Pfizer Inc. (NYSE:PFE) by 67.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,383 shares of the biopharmaceutical company’s stock after purchasing an additional 30,647 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Pfizer were worth $2,137,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Olistico Wealth LLC bought a new position in Pfizer during the second quarter valued at about $25,000. Creekmur Asset Management LLC bought a new position in Pfizer during the fourth quarter valued at about $32,000. Trivant Custom Portfolio Group LLC increased its stake 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 valued at $33,000 after acquiring an additional 600 shares during the period. Tennessee Valley Asset Management Partners bought a new position in Pfizer during the fourth quarter valued at about $36,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in Pfizer during the fourth quarter valued at about $37,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

Pfizer stock traded up $0.40 during mid-day trading on Tuesday, reaching $28.85. The company had a trading volume of 34,551,605 shares, compared to its average volume of 39,672,520. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.19. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 0.65. The company has a market cap of $163.48 billion, a P/E ratio of -480.75, a P/E/G ratio of 1.02 and a beta of 0.69. The business has a fifty day simple moving average of $28.78 and a 200 day simple moving average of $27.87.

Pfizer (NYSE:PFE) last issued its 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. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. On average, equities research analysts predict that Pfizer Inc. will post 2.68 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.82%. Pfizer’s payout ratio is -2,799.53%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, July 31st. Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight investment 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 company. According to MarketBeat.com, the company 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.