Pfizer Inc. (NYSE:PFE) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC increased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 50.8% during the second quarter, HoldingsChannel.com reports. The fund owned 729,326 shares of the biopharmaceutical company’s stock after buying an additional 245,607 shares during the period. AE Wealth Management LLC’s holdings in Pfizer were worth $20,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. 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 acquiring an additional 11,099,024 shares during 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 worth $2,008,798,000 after acquiring an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp boosted its position in Pfizer by 1.8% during the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after acquiring an additional 290,760 shares during the last quarter. Federated Hermes Inc. boosted its position in Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after acquiring an additional 470,003 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after acquiring an additional 238,850 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PFE shares. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday. Wells Fargo & Company boosted 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. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Finally, UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Price Performance

Pfizer stock opened at $29.67 on Friday. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.11. The company’s 50 day simple moving average is $29.35 and its 200-day simple moving average is $28.20. The company has a market capitalization of $168.13 billion, a price-to-earnings ratio of -494.42, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. 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 (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $12.96 billion. During the same period in the prior year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.66%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

Pfizer Company 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.