Choreo LLC Buys 77,645 Shares of Pfizer Inc. (NYSE:PFE)

Choreo LLC lifted its stake in Pfizer Inc. (NYSE:PFE) by 73.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 183,702 shares of the biopharmaceutical company’s stock after acquiring an additional 77,645 shares during the period. Choreo LLC’s holdings in Pfizer were worth $5,182,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the second quarter valued at about $29,000. Creekmur Asset Management LLC acquired a new stake in shares of Pfizer in the fourth quarter valued at about $32,000. Trivant Custom Portfolio Group LLC increased its stake in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in shares of Pfizer during the 2nd quarter worth about $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFE has been the topic of several recent analyst reports. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price target 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. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Trading Up 2.9 %

Shares of PFE opened at $29.40 on Tuesday. 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 has a market cap of $166.60 billion, a PE ratio of -489.92, a PEG ratio of 1.00 and a beta of 0.68. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.62. The stock has a 50 day simple moving average of $29.08 and a 200-day simple moving average of $28.07.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (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 firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.71%. Pfizer’s dividend payout ratio is -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.