Pfizer Inc. (NYSE:PFE) Shares Acquired by LGT Group Foundation

LGT Group Foundation increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 2.5% in the second quarter, HoldingsChannel.com reports. The firm owned 742,875 shares of the biopharmaceutical company’s stock after buying an additional 18,274 shares during the period. LGT Group Foundation’s holdings in Pfizer were worth $20,786,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PFE. Olistico Wealth LLC purchased a new position in Pfizer during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer in the second quarter valued at approximately $29,000. Creekmur Asset Management LLC purchased a new stake in Pfizer during the 4th quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC boosted its position 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 buying an additional 600 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in shares of Pfizer in the second quarter worth $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE PFE traded up $0.33 on Monday, hitting $28.89. 2,587,290 shares of the company’s stock were exchanged, compared to its average volume of 38,122,297. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.62. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm’s 50-day moving average price is $29.06 and its two-hundred day moving average price is $28.05. The firm has a market cap of $163.71 billion, a price-to-earnings ratio of -475.92, a P/E/G ratio of 1.00 and a beta of 0.68.

Pfizer (NYSE:PFE) last released its quarterly earnings data 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 negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts expect that Pfizer Inc. will post 2.66 EPS 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 paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays lifted their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lifted their price target 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. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, UBS Group raised their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

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.