EverSource Wealth Advisors LLC Increases Holdings in Pfizer Inc. (NYSE:PFE)

EverSource Wealth Advisors LLC lifted its position in Pfizer Inc. (NYSE:PFE) by 39.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,946 shares of the biopharmaceutical company’s stock after purchasing an additional 7,331 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Pfizer were worth $665,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Pfizer in the fourth quarter valued at approximately $2,129,927,000. Wellington Management Group LLP grew its holdings in Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after purchasing an additional 8,473,686 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after purchasing an additional 8,298,920 shares during the period. Finally, Swedbank AB purchased a new position in shares of Pfizer in the first quarter valued at approximately $172,902,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFE has been the topic of several research reports. 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 report on Wednesday. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group raised their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.58.

Pfizer Trading Down 0.7 %

Shares of NYSE PFE traded down $0.22 during trading on Friday, reaching $30.43. The stock had a trading volume of 42,364,712 shares, compared to its average volume of 37,871,120. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The business’s 50-day moving average price is $28.73 and its 200-day moving average price is $27.84. The company has a market cap of $172.43 billion, a P/E ratio of -507.08, a PEG ratio of 1.07 and a beta of 0.69.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.31% and a negative net margin of 4.66%. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Pfizer Inc. will post 2.68 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.52%. Pfizer’s payout ratio is -2,799.53%.

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.