Pfizer Inc. (NYSE:PFE) Stock Position Lifted by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its holdings in Pfizer Inc. (NYSE:PFE) by 683.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 192,992 shares of the biopharmaceutical company’s stock after purchasing an additional 168,369 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Pfizer were worth $5,356,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after purchasing an additional 8,473,686 shares in the last quarter. Morgan Stanley boosted its stake in Pfizer by 0.4% during the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after buying an additional 348,628 shares in the last quarter. Norges Bank bought a new position in Pfizer during the fourth quarter valued at about $2,129,927,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after buying an additional 8,298,920 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

PFE has been the subject of several research reports. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Morgan Stanley upped their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, June 26th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Pfizer currently has a consensus rating of “Hold” and a consensus target price of $35.54.

Pfizer Stock Performance

Shares of NYSE:PFE traded up $0.24 during trading on Monday, hitting $28.22. 24,973,555 shares of the stock were exchanged, compared to its average volume of 40,781,441. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $37.80. The company has a market capitalization of $159.91 billion, a price-to-earnings ratio of -470.25, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. The company’s fifty day simple moving average is $27.90 and its 200-day simple moving average is $27.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05.

Pfizer (NYSE:PFE) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The business had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. Pfizer’s revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. Sell-side analysts expect that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date is Thursday, July 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.95%. Pfizer’s dividend payout ratio (DPR) is presently -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.