Pfizer Inc. (NYSE:PFE) Position Increased by Corundum Group Inc.

Corundum Group Inc. raised its position in Pfizer Inc. (NYSE:PFE) by 31.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,561 shares of the biopharmaceutical company’s stock after purchasing an additional 12,725 shares during the quarter. Corundum Group Inc.’s holdings in Pfizer were worth $1,499,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PFE. Clifford Swan Investment Counsel LLC raised its holdings in Pfizer by 4.7% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock worth $12,007,000 after acquiring an additional 18,611 shares during the period. LifePlan Financial LLC acquired a new position in shares of Pfizer during the 4th quarter worth about $255,000. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Pfizer during the 4th quarter valued at approximately $16,166,000. KLCM Advisors Inc. grew its holdings in Pfizer by 75.0% in the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after buying an additional 74,487 shares during the last quarter. Finally, First Heartland Consultants Inc. increased its position in Pfizer by 43.3% in the 4th quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 3,933 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of PFE traded down $0.17 during mid-day trading on Thursday, hitting $28.71. 28,404,433 shares of the company traded hands, compared to its average volume of 39,500,234. 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 stock has a market capitalization of $162.69 billion, a price-to-earnings ratio of -478.42, a PEG ratio of 0.99 and a beta of 0.69. The business has a 50-day moving average of $28.75 and a 200 day moving average of $27.89. Pfizer Inc. has a one year low of $25.20 and a one year high of $37.19.

Pfizer (NYSE:PFE) last announced 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. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. As a group, equities analysts expect that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.85%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Analysts Set New Price Targets

PFE has been the subject of several research reports. Morgan Stanley increased their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. 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 boosted their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

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.