Gabelli Funds LLC Has $20.76 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

Gabelli Funds LLC raised its position in shares of Pfizer Inc. (NYSE:PFE) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 742,113 shares of the biopharmaceutical company’s stock after purchasing an additional 31,700 shares during the period. Gabelli Funds LLC’s holdings in Pfizer were worth $20,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PFE. Olistico Wealth LLC bought a new stake in shares of Pfizer during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the second quarter worth about $29,000. Creekmur Asset Management LLC bought a new position in shares of Pfizer in the fourth quarter worth about $32,000. Trivant Custom Portfolio Group LLC boosted its stake in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new stake in shares of Pfizer during the 2nd quarter valued at approximately $34,000. 68.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PFE has been the subject of several research reports. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, September 16th. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research 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 research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Down 0.8 %

Pfizer stock opened at $29.42 on Monday. The firm has a market cap of $166.71 billion, a price-to-earnings ratio of -490.25, a PEG ratio of 1.05 and a beta of 0.68. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a 50 day moving average price of $29.36 and a two-hundred day moving average price of $28.24.

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 analysts’ consensus estimates of $0.46 by $0.14. The business 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%. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. Equities analysts predict that Pfizer Inc. will post 2.66 EPS 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 given a dividend of $0.42 per share. 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 -2,799.53%.

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.