Wrapmanager Inc. Buys 2,276 Shares of Pfizer Inc. (NYSE:PFE)

Wrapmanager Inc. increased its position in shares of Pfizer Inc. (NYSE:PFE) by 7.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,453 shares of the biopharmaceutical company’s stock after buying an additional 2,276 shares during the quarter. Wrapmanager Inc.’s holdings in Pfizer were worth $964,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Olistico Wealth LLC acquired a new position in shares of Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in Pfizer in the 2nd quarter valued at $29,000. Creekmur Asset Management LLC bought a new stake in Pfizer in the fourth quarter valued at $32,000. Trivant Custom Portfolio Group LLC lifted its holdings in shares of 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. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer in the 2nd quarter valued at $34,000. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PFE shares. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $29.27 on Friday. The company has a market capitalization of $165.86 billion, a price-to-earnings ratio of -487.75, a P/E/G ratio of 1.04 and a beta of 0.68. The firm’s 50 day simple moving average is $29.21 and its 200 day simple moving average is $28.11. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.42.

Pfizer (NYSE:PFE) last released 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 business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the company earned $0.67 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio is -2,799.53%.

Pfizer Company Profile

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.