Pfizer Inc. (NYSE:PFE) Shares Purchased by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. increased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 3.7% during the second quarter, HoldingsChannel reports. The fund owned 3,243,383 shares of the biopharmaceutical company’s stock after buying an additional 114,285 shares during the period. Pfizer comprises approximately 1.7% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 19th biggest holding. Letko Brosseau & Associates Inc.’s holdings in Pfizer were worth $90,750,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFE. Olistico Wealth LLC acquired a new position in Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the second quarter worth $29,000. Creekmur Asset Management LLC acquired a new position in Pfizer during the fourth quarter worth $32,000. Trivant Custom Portfolio Group LLC grew its holdings in Pfizer by 100.0% in the first 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 during the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in Pfizer in the second quarter valued at $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Up 0.2 %

Shares of Pfizer stock traded up $0.05 during trading hours on Friday, reaching $28.56. The stock had a trading volume of 31,214,484 shares, compared to its average volume of 38,328,773. The firm has a market capitalization of $161.84 billion, a price-to-earnings ratio of -476.00, a P/E/G ratio of 1.02 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.64. The firm has a 50 day simple moving average of $29.06 and a two-hundred day simple moving average of $28.05.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion for 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%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were issued 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 5.88%. Pfizer’s payout ratio is currently -2,800.00%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PFE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, August 19th. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Barclays upped their target price on Pfizer from $30.00 to $32.00 and gave the company 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, 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 report on Wednesday, July 31st. Eight investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

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.