Ascent Group LLC Acquires 9,565 Shares of Pfizer Inc. (NYSE:PFE)

Ascent Group LLC lifted its holdings in Pfizer Inc. (NYSE:PFE) by 23.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 50,845 shares of the biopharmaceutical company’s stock after buying an additional 9,565 shares during the period. Ascent Group LLC’s holdings in Pfizer were worth $1,423,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Olistico Wealth LLC purchased a new stake in Pfizer during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer during the 2nd quarter valued at approximately $29,000. Creekmur Asset Management LLC bought a new position in shares of Pfizer during the 4th quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new stake in Pfizer in the second quarter worth $34,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Daiwa America raised shares of 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 Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Up 0.4 %

NYSE:PFE opened at $29.09 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.11. The company has a 50-day moving average of $29.31 and a 200 day moving average of $28.30. The firm has a market cap of $164.84 billion, a PE ratio of -484.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced its quarterly 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. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current fiscal 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.