Perritt Capital Management Inc Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Perritt Capital Management Inc raised its holdings in Pfizer Inc. (NYSE:PFE) by 17.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,179 shares of the biopharmaceutical company’s stock after buying an additional 2,896 shares during the quarter. Perritt Capital Management Inc’s holdings in Pfizer were worth $537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in Pfizer in the fourth quarter worth about $2,129,927,000. Wellington Management Group LLP lifted 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 buying an additional 11,099,024 shares in the last quarter. Swedbank AB purchased a new stake in shares of Pfizer during the first quarter valued at approximately $172,902,000. Pzena Investment Management LLC increased its holdings in shares of Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares in the last quarter. Finally, Ruffer LLP increased its holdings in Pfizer by 248.7% in the 4th quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after buying an additional 4,133,786 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.3 %

Shares of NYSE PFE opened at $29.64 on Thursday. The stock has a market capitalization of $167.96 billion, a P/E ratio of -494.00, a PEG ratio of 1.00 and a beta of 0.68. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.62. The business’s 50 day moving average is $29.16 and its two-hundred day moving average is $28.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PFE shares. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped 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 America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday. Eight research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

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.