Lumbard & Kellner LLC Raises Stake in Pfizer Inc. (NYSE:PFE)

Lumbard & Kellner LLC grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 8.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,901 shares of the biopharmaceutical company’s stock after purchasing an additional 8,454 shares during the period. Lumbard & Kellner LLC’s holdings in Pfizer were worth $3,187,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. FAS Wealth Partners Inc. boosted its position in shares of Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after buying an additional 342 shares in the last quarter. Sachetta LLC boosted its position in shares of Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 342 shares in the last quarter. Ironvine Capital Partners LLC boosted its position in shares of Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after buying an additional 353 shares in the last quarter. Secure Asset Management LLC boosted its position in shares of Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after buying an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its position in shares of Pfizer by 0.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Down 0.8 %

NYSE PFE opened at $29.83 on Wednesday. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.12. The company has a 50-day moving average of $29.30 and a 200-day moving average of $28.18. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The company has a market cap of $169.04 billion, a P/E ratio of -497.08, a P/E/G ratio of 1.02 and a beta of 0.68.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the prior year, the company posted $0.67 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced 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 5.63%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Company 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.