Newbridge Financial Services Group Inc. Increases Stock Position in Pfizer Inc. (NYSE:PFE)

Newbridge Financial Services Group Inc. lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 21.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,462 shares of the biopharmaceutical company’s stock after buying an additional 3,223 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Pfizer were worth $517,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Capital International Ltd. CA lifted its position in shares of Pfizer by 2.2% during the 4th quarter. Capital International Ltd. CA now owns 371,336 shares of the biopharmaceutical company’s stock valued at $10,691,000 after acquiring an additional 7,991 shares during the period. Capital International Sarl raised its holdings in Pfizer by 9.3% during the fourth quarter. Capital International Sarl now owns 438,138 shares of the biopharmaceutical company’s stock worth $12,614,000 after purchasing an additional 37,233 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Pfizer by 283.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 705,479 shares of the biopharmaceutical company’s stock worth $20,311,000 after purchasing an additional 521,677 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Pfizer by 1.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 78,863 shares of the biopharmaceutical company’s stock valued at $2,271,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Morningstar Investment Management LLC increased its position in shares of Pfizer by 4.8% in the fourth quarter. Morningstar Investment Management LLC now owns 37,016 shares of the biopharmaceutical company’s stock valued at $1,066,000 after buying an additional 1,710 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays lifted their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com cut Pfizer from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday, September 16th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Down 0.9 %

Shares of Pfizer stock opened at $28.67 on Wednesday. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.11. The business has a 50-day moving average of $29.28 and a 200-day moving average of $28.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The company has a market capitalization of $162.46 billion, a PE ratio of -477.83, a P/E/G ratio of 1.27 and a beta of 0.68.

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 the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion for 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 firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. As a group, equities analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

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.