Estabrook Capital Management Has $10.10 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Estabrook Capital Management raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 361,026 shares of the biopharmaceutical company’s stock after buying an additional 1,148 shares during the period. Pfizer makes up approximately 1.6% of Estabrook Capital Management’s portfolio, making the stock its 16th largest position. Estabrook Capital Management’s holdings in Pfizer were worth $10,102,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FAS Wealth Partners Inc. raised its stake in Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after buying an additional 342 shares during the period. Sachetta LLC raised its position in shares of Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 342 shares during the period. Ironvine Capital Partners LLC lifted its holdings in shares of Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after purchasing an additional 353 shares in the last quarter. Secure Asset Management LLC grew its position in Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after purchasing an additional 353 shares during the period. Finally, Patrick M Sweeney & Associates Inc. increased its stake in Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after purchasing an additional 355 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of NYSE:PFE opened at $29.42 on Friday. The company has a market capitalization of $166.71 billion, a P/E ratio of -490.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68. The company’s 50-day moving average is $29.36 and its 200 day moving average is $28.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.11.

Pfizer (NYSE:PFE) last released its earnings results 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. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.71%. Pfizer’s payout ratio is presently -2,799.53%.

Analysts Set New Price Targets

PFE has been the subject of a number of analyst reports. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Monday, September 16th. Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.54.

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.