Stablepoint Partners LLC Acquires 33,529 Shares of Pfizer Inc. (NYSE:PFE)

Stablepoint Partners LLC grew its holdings in Pfizer Inc. (NYSE:PFE) by 33.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,556 shares of the biopharmaceutical company’s stock after purchasing an additional 33,529 shares during the period. Stablepoint Partners LLC’s holdings in Pfizer were worth $4,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Olistico Wealth LLC purchased a new position in Pfizer during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new position in Pfizer during the second quarter valued at approximately $29,000. Creekmur Asset Management LLC purchased a new position in Pfizer in the 4th quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC grew its stake in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new position in Pfizer in the 2nd quarter worth approximately $34,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of PFE stock opened at $28.38 on Thursday. The company’s 50-day moving average is $29.03 and its 200 day moving average is $28.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company has a market capitalization of $160.82 billion, a price-to-earnings ratio of -472.92, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a one year low of $25.20 and a one year high of $36.29.

Pfizer (NYSE:PFE) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 EPS. Sell-side analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is presently -2,799.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PFE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, August 19th. Barclays upped their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company increased their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.