GAMMA Investing LLC Increases Stake in Pfizer Inc. (NYSE:PFE)

GAMMA Investing LLC boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 94.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,807 shares of the biopharmaceutical company’s stock after buying an additional 13,039 shares during the quarter. GAMMA Investing LLC’s holdings in Pfizer were worth $750,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Argus Investors Counsel Inc. boosted its stake in Pfizer by 17.2% during the 4th quarter. Argus Investors Counsel Inc. now owns 43,315 shares of the biopharmaceutical company’s stock worth $1,247,000 after purchasing an additional 6,350 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Pfizer by 2,150.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,920,111 shares of the biopharmaceutical company’s stock valued at $55,280,000 after acquiring an additional 1,834,781 shares during the last quarter. Traveka Wealth LLC acquired a new position in shares of Pfizer during the 4th quarter valued at about $264,000. Proffitt & Goodson Inc. boosted its position in shares of Pfizer by 19.1% during the 4th quarter. Proffitt & Goodson Inc. now owns 2,495 shares of the biopharmaceutical company’s stock valued at $72,000 after acquiring an additional 400 shares during the last quarter. Finally, Highlander Capital Management LLC boosted its position in shares of Pfizer by 50.9% during the 4th quarter. Highlander Capital Management LLC now owns 37,669 shares of the biopharmaceutical company’s stock valued at $1,084,000 after acquiring an additional 12,700 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PFE shares. Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Morgan Stanley boosted their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.58.

Pfizer Price Performance

Shares of Pfizer stock traded down $0.44 during trading on Monday, hitting $29.99. The stock had a trading volume of 25,437,504 shares, compared to its average volume of 40,008,781. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The firm has a market cap of $169.94 billion, a P/E ratio of -495.33, a PEG ratio of 1.07 and a beta of 0.69. The business has a fifty day moving average of $28.73 and a two-hundred day moving average of $27.83. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.19.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.31% 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 quarter in the prior year, the firm posted $0.67 earnings per share. On average, sell-side analysts expect that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is -2,800.00%.

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.