M&G Plc Increases Position in Pfizer Inc. (NYSE:PFE)

M&G Plc lifted its position in shares of Pfizer Inc. (NYSE:PFE) by 14.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 813,423 shares of the biopharmaceutical company’s stock after purchasing an additional 103,254 shares during the period. M&G Plc’s holdings in Pfizer were worth $22,776,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Olistico Wealth LLC purchased a new position in Pfizer in the second quarter valued at approximately $25,000. Creekmur Asset Management LLC purchased a new position in shares of Pfizer in the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC raised its stake 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 worth $33,000 after acquiring an additional 600 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Pfizer in the fourth quarter valued at $36,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Pfizer in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on 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 upped their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Performance

Shares of PFE stock opened at $28.85 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $37.19. The company has a market cap of $163.48 billion, a price-to-earnings ratio of -480.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.69. The stock has a 50 day simple moving average of $28.77 and a 200-day simple moving average of $27.88.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. On average, equities analysts forecast 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 given a dividend of $0.42 per share. The ex-dividend date is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.82%. Pfizer’s payout ratio is -2,799.53%.

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.