Pfizer Inc. (NYSE:PFE) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC increased its position in shares of Pfizer Inc. (NYSE:PFE) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 95,592 shares of the biopharmaceutical company’s stock after purchasing an additional 5,932 shares during the quarter. Fred Alger Management LLC’s holdings in Pfizer were worth $2,675,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Wescott Financial Advisory Group LLC purchased a new stake in shares of Pfizer in the 2nd quarter worth about $224,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Pfizer by 59.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,081,555 shares of the biopharmaceutical company’s stock valued at $30,262,000 after purchasing an additional 405,144 shares in the last quarter. Gateway Advisory LLC purchased a new stake in shares of Pfizer in the second quarter valued at about $278,000. Marshall Wace LLP grew its position in shares of Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares during the last quarter. Finally, Samlyn Capital LLC increased its stake in shares of Pfizer by 41.8% during the 2nd quarter. Samlyn Capital LLC now owns 4,906,703 shares of the biopharmaceutical company’s stock worth $137,290,000 after purchasing an additional 1,446,582 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PFE shares. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday, September 16th. Eight research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Up 0.1 %

Shares of NYSE PFE opened at $28.97 on Friday. The stock has a market capitalization of $164.13 billion, a PE ratio of -482.75, a P/E/G ratio of 1.26 and a beta of 0.68. 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 firm has a fifty day moving average of $29.34 and a 200-day moving average of $28.28. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.11.

Pfizer (NYSE:PFE) last posted its quarterly 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 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. On average, analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

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.