Bridges Investment Management Inc. Purchases 38,012 Shares of Pfizer Inc. (NYSE:PFE)

Bridges Investment Management Inc. lifted its position in shares of Pfizer Inc. (NYSE:PFE) by 81.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 84,412 shares of the biopharmaceutical company’s stock after acquiring an additional 38,012 shares during the quarter. Bridges Investment Management Inc.’s holdings in Pfizer were worth $2,362,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PFE. Wellington Management Group LLP boosted its position in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp grew its stake in Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after purchasing an additional 290,760 shares during the last quarter. Federated Hermes Inc. raised its holdings in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after buying an additional 238,850 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PFE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, September 16th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Barclays upped their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

PFE opened at $29.42 on Friday. The firm has a 50 day moving average of $29.36 and a two-hundred day moving average of $28.22. The firm has a market capitalization of $166.71 billion, a PE ratio of -490.25, a P/E/G ratio of 1.05 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.11.

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

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

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.