Total Investment Management Inc. Takes $206,000 Position in Pfizer Inc. (NYSE:PFE)

Total Investment Management Inc. purchased a new position in Pfizer Inc. (NYSE:PFE) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 7,346 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP raised its position in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares in the last quarter. Norges Bank bought a new stake in Pfizer during the fourth quarter worth approximately $2,129,927,000. Massachusetts Financial Services Co. MA raised its position in Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after purchasing an additional 8,298,920 shares during the period. Van ECK Associates Corp lifted its stake in shares of Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after purchasing an additional 290,760 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Pfizer by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 9,250,303 shares of the biopharmaceutical company’s stock valued at $256,696,000 after purchasing an additional 83,556 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PFE. Wells Fargo & Company raised their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Monday, August 19th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Performance

Shares of Pfizer stock opened at $28.56 on Monday. 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 stock’s fifty day moving average price is $29.06 and its 200-day moving average price is $28.05. The firm has a market cap of $161.84 billion, a P/E ratio of -475.92, a P/E/G ratio of 1.00 and a beta of 0.68. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.64.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.88%. Pfizer’s dividend payout ratio (DPR) is presently -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.