iA Global Asset Management Inc. Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

iA Global Asset Management Inc. lifted its position in Pfizer Inc. (NYSE:PFE) by 43.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,254 shares of the biopharmaceutical company’s stock after buying an additional 19,370 shares during the quarter. iA Global Asset Management Inc.’s holdings in Pfizer were worth $1,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the 2nd quarter worth $29,000. Creekmur Asset Management LLC acquired a new position in Pfizer during the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC grew its stake in Pfizer by 100.0% during the 1st 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 in the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Pfizer during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday, August 19th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Up 1.0 %

PFE opened at $29.01 on Friday. The business has a 50 day moving average price of $28.99 and a two-hundred day moving average price of $28.01. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company has a market cap of $164.39 billion, a PE ratio of -483.50, a P/E/G ratio of 0.98 and a beta of 0.69. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $36.29.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 EPS. As a group, research analysts anticipate that Pfizer Inc. will post 2.68 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.79%. The ex-dividend date is Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,800.00%.

Pfizer 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.