Marco Investment Management LLC Raises Stock Holdings in Pfizer Inc. (NYSE:PFE)

Marco Investment Management LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,332 shares of the biopharmaceutical company’s stock after buying an additional 6,522 shares during the quarter. Marco Investment Management LLC’s holdings in Pfizer were worth $4,010,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Pfizer by 4.9% in 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 purchasing an additional 11,099,024 shares during the last quarter. Norges Bank acquired a new position in Pfizer during the 4th quarter worth about $2,129,927,000. Van ECK Associates Corp boosted its holdings 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 valued at $450,593,000 after acquiring an additional 290,760 shares during the period. California State Teachers Retirement System grew its position in Pfizer by 0.9% in 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 acquiring an additional 83,556 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its position in shares of Pfizer by 12.5% during the first quarter. Thornburg Investment Management Inc. now owns 8,891,353 shares of the biopharmaceutical company’s stock worth $246,735,000 after purchasing an additional 988,451 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Up 1.1 %

Shares of Pfizer stock opened at $29.74 on Wednesday. The company has a market cap of $168.50 billion, a P/E ratio of -495.58, a PEG ratio of 1.00 and a beta of 0.68. The firm has a fifty day moving average of $29.12 and a two-hundred day moving average of $28.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a one year low of $25.20 and a one year high of $34.62.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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 firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s payout ratio is -2,800.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.