Denali Advisors LLC Grows Stock Holdings in Pfizer Inc. (NYSE:PFE)

Denali Advisors LLC lifted its position in Pfizer Inc. (NYSE:PFE) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,600 shares of the biopharmaceutical company’s stock after buying an additional 2,400 shares during the quarter. Denali Advisors LLC’s holdings in Pfizer were worth $884,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

PFE has been the topic of several analyst reports. Barclays increased their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Up 2.7 %

Shares of NYSE PFE opened at $30.07 on Tuesday. The business has a 50-day moving average price of $29.26 and a 200 day moving average price of $28.15. The stock has a market cap of $170.40 billion, a PE ratio of -501.08, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. 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 Inc. has a 52-week low of $25.20 and a 52-week high of $34.12.

Pfizer (NYSE:PFE) last posted 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 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 company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. Equities research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.59%. Pfizer’s dividend payout ratio is presently -2,799.53%.

About Pfizer

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.