Moors & Cabot Inc. Buys 71,082 Shares of Pfizer Inc. (NYSE:PFE)

Moors & Cabot Inc. raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 18.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 451,182 shares of the biopharmaceutical company’s stock after buying an additional 71,082 shares during the quarter. Pfizer comprises 0.7% of Moors & Cabot Inc.’s portfolio, making the stock its 27th biggest position. Moors & Cabot Inc.’s holdings in Pfizer were worth $12,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PFE. Wellington Management Group LLP increased its stake in Pfizer by 4.9% in the fourth 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 in the last quarter. Swedbank AB bought a new stake in shares of Pfizer in the 1st quarter valued at $172,902,000. Pzena Investment Management LLC raised its stake in Pfizer by 181.6% during the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after buying an additional 4,947,000 shares during the period. Ruffer LLP lifted its holdings in Pfizer by 248.7% during the fourth quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after acquiring an additional 4,133,786 shares in the last quarter. Finally, FIL Ltd grew its stake in Pfizer by 97.1% in the fourth quarter. FIL Ltd now owns 7,582,518 shares of the biopharmaceutical company’s stock valued at $218,301,000 after acquiring an additional 3,734,595 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PFE shares. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Barclays lifted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Trading Up 2.7 %

Shares of NYSE:PFE opened at $30.07 on Tuesday. The company has a 50-day simple moving average of $29.26 and a 200 day simple moving average of $28.15. The company has a market capitalization of $170.40 billion, a P/E ratio of -501.08, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. 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 52-week low of $25.20 and a 52-week high of $34.12.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the previous year, the company posted $0.67 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. 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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s payout ratio 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.