Elevated Capital Advisors LLC Takes $608,000 Position in Pfizer Inc. (NYSE:PFE)

Elevated Capital Advisors LLC acquired a new position in shares of Pfizer Inc. (NYSE:PFE) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 21,738 shares of the biopharmaceutical company’s stock, valued at approximately $608,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Pfizer during the 4th quarter valued at approximately $2,129,927,000. Wellington Management Group LLP boosted its position in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after purchasing an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after purchasing an additional 8,298,920 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Pfizer during the 1st quarter valued at approximately $172,902,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 1.0 %

Shares of PFE stock opened at $29.01 on Tuesday. The company has a market capitalization of $164.39 billion, a P/E ratio of -483.50, a price-to-earnings-growth ratio of 1.02 and a beta of 0.69. 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 business’s 50 day moving average is $29.01 and its two-hundred day moving average is $28.03. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $36.29.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. Equities analysts forecast that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.79%. Pfizer’s payout ratio is currently -2,800.00%.

Analyst Upgrades and Downgrades

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

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.