Hobbs Group Advisors LLC Invests $785,000 in Pfizer Inc. (NYSE:PFE)

Hobbs Group Advisors LLC acquired a new position in shares of Pfizer Inc. (NYSE:PFE) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 28,052 shares of the biopharmaceutical company’s stock, valued at approximately $785,000.

Several other hedge funds have also modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new stake in Pfizer during the 4th quarter valued at $36,000. Naples Money Management LLC purchased a new stake in Pfizer in the fourth quarter worth $43,000. Onyx Bridge Wealth Group LLC increased its stake in Pfizer by 10.7% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 19,042 shares of the biopharmaceutical company’s stock worth $548,000 after purchasing an additional 1,841 shares during the period. abrdn plc increased its stake in Pfizer by 108.1% in the fourth quarter. abrdn plc now owns 4,469,299 shares of the biopharmaceutical company’s stock worth $128,671,000 after purchasing an additional 2,321,671 shares during the period. Finally, Nicholas Hoffman & Company LLC. increased its stake in Pfizer by 37.5% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 44,211 shares of the biopharmaceutical company’s stock worth $1,273,000 after purchasing an additional 12,063 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 0.3 %

PFE stock traded up $0.10 during trading on Tuesday, reaching $28.90. 21,197,469 shares of the company traded hands, compared to its average volume of 39,372,039. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.19. The business has a 50 day simple moving average of $28.76 and a 200 day simple moving average of $27.92. The company has a market capitalization of $163.76 billion, a price-to-earnings ratio of -484.17, a price-to-earnings-growth ratio of 1.00 and a beta of 0.69. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

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 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PFE shares. Morgan Stanley increased their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target 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.