Migdal Insurance & Financial Holdings Ltd. Acquires Shares of 3,605 Pfizer Inc. (NYSE:PFE)

Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Pfizer Inc. (NYSE:PFE) during the second quarter, Holdings Channel reports. The firm bought 3,605 shares of the biopharmaceutical company’s stock, valued at approximately $100,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFE. Olistico Wealth LLC bought a new position in Pfizer during the second quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer during the 2nd quarter worth $29,000. Creekmur Asset Management LLC purchased a new stake in Pfizer in the 4th quarter worth about $32,000. Trivant Custom Portfolio Group LLC raised its stake in Pfizer by 100.0% in the 1st 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. Finally, Financial Connections Group Inc. purchased a new stake in Pfizer during the second quarter valued at about $34,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

Shares of PFE traded down $0.04 during trading hours on Thursday, reaching $28.71. 19,221,188 shares of the company’s stock traded hands, compared to its average volume of 38,504,590. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm’s 50 day simple moving average is $28.95 and its 200-day simple moving average is $27.99. The stock has a market cap of $162.69 billion, a PE ratio of -478.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.69. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $36.29.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during 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%. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 earnings per share. Equities analysts expect that Pfizer Inc. will post 2.68 EPS 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 paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.85%. Pfizer’s dividend payout ratio is presently -2,800.00%.

Analyst Ratings Changes

PFE has been the subject of several recent research reports. Wells Fargo & Company lifted their target price 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. Morgan Stanley boosted their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.