Wedmont Private Capital Increases Position in Pfizer Inc. (NYSE:PFE)

Wedmont Private Capital increased its position in Pfizer Inc. (NYSE:PFE) by 18.1% in the second quarter, Holdings Channel reports. The firm owned 35,479 shares of the biopharmaceutical company’s stock after purchasing an additional 5,435 shares during the quarter. Wedmont Private Capital’s holdings in Pfizer were worth $1,026,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PFE. Olistico Wealth LLC bought a new stake in shares of Pfizer during the second quarter valued at approximately $25,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC raised its holdings in shares of Pfizer by 100.0% during the first 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 last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $36,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $37,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PFE. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, July 31st. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the stock 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Trading Up 1.5 %

NYSE PFE traded up $0.44 on Tuesday, hitting $28.89. 21,144,404 shares of the stock were exchanged, compared to its average volume of 39,585,695. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $37.19. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.78. The company has a market capitalization of $163.71 billion, a price-to-earnings ratio of -480.75, a P/E/G ratio of 1.02 and a beta of 0.69. The company’s 50-day moving average price is $28.78 and its two-hundred day moving average price is $27.87.

Pfizer (NYSE:PFE) last posted its quarterly earnings data 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 analysts’ expectations of $12.96 billion. During the same period in the previous year, the company posted $0.67 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts predict that Pfizer Inc. will post 2.68 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.82%. The ex-dividend date is Friday, July 26th. Pfizer’s dividend 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.