Valley Wealth Managers Inc. Acquires 98,802 Shares of Pfizer Inc. (NYSE:PFE)

Valley Wealth Managers Inc. raised its holdings in Pfizer Inc. (NYSE:PFE) by 17.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 649,809 shares of the biopharmaceutical company’s stock after acquiring an additional 98,802 shares during the period. Pfizer comprises 1.4% of Valley Wealth Managers Inc.’s holdings, making the stock its 27th biggest holding. Valley Wealth Managers Inc.’s holdings in Pfizer were worth $18,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. grew its holdings in shares of Pfizer by 5.2% during the second quarter. GHP Investment Advisors Inc. now owns 12,589 shares of the biopharmaceutical company’s stock worth $352,000 after purchasing an additional 620 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in Pfizer by 25.4% in the second quarter. Meeder Advisory Services Inc. now owns 60,281 shares of the biopharmaceutical company’s stock valued at $1,687,000 after acquiring an additional 12,208 shares during the last quarter. Morningstar Investment Management LLC boosted its holdings in Pfizer by 3.2% in the second quarter. Morningstar Investment Management LLC now owns 38,186 shares of the biopharmaceutical company’s stock valued at $1,068,000 after acquiring an additional 1,170 shares during the last quarter. Lansing Street Advisors boosted its holdings in Pfizer by 3.8% in the second quarter. Lansing Street Advisors now owns 12,450 shares of the biopharmaceutical company’s stock valued at $348,000 after acquiring an additional 454 shares during the last quarter. Finally, Nelson Capital Management LLC boosted its holdings in Pfizer by 8.9% in the second quarter. Nelson Capital Management LLC now owns 95,543 shares of the biopharmaceutical company’s stock valued at $2,673,000 after acquiring an additional 7,844 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Down 1.7 %

NYSE PFE opened at $29.16 on Friday. The firm has a market capitalization of $165.24 billion, a P/E ratio of -485.92, a PEG ratio of 1.04 and a beta of 0.68. The business has a fifty day simple moving average of $29.19 and a 200 day simple moving average of $28.10. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.62. 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 (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm 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%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. On average, analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.76%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PFE shares. 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. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday. Wells Fargo & Company boosted their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Barclays upped their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eight 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.54.

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.