Pfizer Inc. (NYSE:PFE) Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC lifted its holdings in Pfizer Inc. (NYSE:PFE) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,690 shares of the biopharmaceutical company’s stock after acquiring an additional 16,472 shares during the period. Pfizer makes up 2.4% of Sierra Summit Advisors LLC’s portfolio, making the stock its 15th biggest position. Sierra Summit Advisors LLC’s holdings in Pfizer were worth $9,784,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Pfizer in the fourth quarter valued at approximately $16,166,000. LGT Group Foundation grew its stake in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after purchasing an additional 18,274 shares in the last quarter. ORG Partners LLC increased its holdings in Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares during the last quarter. Kempner Capital Management Inc. purchased a new position in shares of Pfizer during the 1st quarter valued at approximately $2,439,000. Finally, Leo Wealth LLC acquired a new stake in shares of Pfizer during the fourth quarter worth approximately $2,171,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of PFE opened at $29.27 on Monday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.42. The firm has a market capitalization of $165.86 billion, a PE ratio of -487.83, a P/E/G ratio of 1.04 and a beta of 0.68. The firm has a 50-day moving average price of $29.21 and a 200 day moving average price of $28.13. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its quarterly earnings data 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 business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $0.67 earnings per share. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.74%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PFE. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, September 9th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.