Pfizer Inc. (NYSE:PFE) Stake Increased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 3,885.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,899,435 shares of the biopharmaceutical company’s stock after acquiring an additional 1,851,772 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pfizer were worth $53,146,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in Pfizer in the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer in the 2nd quarter worth approximately $29,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer in the 4th quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC raised its position in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in Pfizer during the second quarter worth $34,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PFE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, August 19th. Barclays lifted their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the company 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Price Performance

Shares of NYSE:PFE traded up $0.05 during trading on Friday, reaching $28.56. The company had a trading volume of 31,214,484 shares, compared to its average volume of 38,328,773. The firm’s fifty day moving average is $29.06 and its 200 day moving average is $28.05. 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 firm has a market capitalization of $161.84 billion, a PE ratio of -476.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.64.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. On average, equities analysts forecast that Pfizer Inc. will post 2.66 EPS for the current 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 5.88%. Pfizer’s dividend payout ratio is currently -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.