Massachusetts Wealth Management Buys 18,650 Shares of Pfizer Inc. (NYSE:PFE)

Massachusetts Wealth Management lifted its stake in Pfizer Inc. (NYSE:PFE) by 35.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,432 shares of the biopharmaceutical company’s stock after purchasing an additional 18,650 shares during the period. Massachusetts Wealth Management’s holdings in Pfizer were worth $1,999,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in Pfizer in the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer in the second quarter valued at approximately $29,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC lifted its stake in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new position in shares of Pfizer in the 2nd quarter worth $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Up 1.0 %

Shares of NYSE PFE traded up $0.29 during mid-day trading on Friday, hitting $29.01. The company had a trading volume of 37,137,599 shares, compared to its average volume of 26,838,326. The firm has a 50-day simple moving average of $28.99 and a two-hundred day simple moving average of $28.01. Pfizer Inc. has a one year low of $25.20 and a one year high of $36.29. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $164.39 billion, a PE ratio of -483.42, a price-to-earnings-growth ratio of 1.02 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its earnings results 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 analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $0.67 earnings per share. On average, equities analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a $0.42 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.79%. Pfizer’s payout ratio is -2,799.53%.

Wall Street Analysts Forecast Growth

PFE has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, August 19th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Daiwa America upgraded 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 report on Wednesday, August 7th. Finally, Wells Fargo & Company increased their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.