Wealth Enhancement Advisory Services LLC Acquires 21,970 Shares of Pfizer Inc. (NYSE:PFE)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,648,811 shares of the biopharmaceutical company’s stock after buying an additional 21,970 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Pfizer were worth $46,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Andina Capital Management LLC bought a new position in shares of Pfizer during the 2nd quarter valued at about $281,000. AA Financial Advisors LLC boosted its stake in Pfizer by 13.7% during the second quarter. AA Financial Advisors LLC now owns 13,040 shares of the biopharmaceutical company’s stock valued at $365,000 after buying an additional 1,574 shares during the last quarter. Maia Wealth LLC purchased a new position in Pfizer during the 2nd quarter valued at approximately $372,000. Burke & Herbert Bank & Trust Co. increased its stake in Pfizer by 67.0% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 76,383 shares of the biopharmaceutical company’s stock worth $2,137,000 after acquiring an additional 30,647 shares during the last quarter. Finally, M&G Plc raised its holdings in shares of Pfizer by 14.5% during the 2nd quarter. M&G Plc now owns 813,423 shares of the biopharmaceutical company’s stock worth $22,776,000 after acquiring an additional 103,254 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.0 %

PFE traded down $0.01 during trading hours on Wednesday, reaching $28.84. 10,492,627 shares of the company’s stock traded hands, compared to its average volume of 39,485,586. The firm has a 50-day moving average price of $28.77 and a 200 day moving average price of $27.88. The firm has a market capitalization of $163.42 billion, a PE ratio of -480.75, a PEG ratio of 1.02 and a beta of 0.69. The company has a quick ratio of 0.78, 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 $37.19.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. As a group, sell-side 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. Stockholders of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Morgan Stanley upped their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, BMO Capital Markets restated an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Eight research 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 company. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average 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.