Cornerstone Wealth Group LLC Has $463,000 Holdings in Pfizer Inc. (NYSE:PFE)

Cornerstone Wealth Group LLC grew its position in Pfizer Inc. (NYSE:PFE) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,531 shares of the biopharmaceutical company’s stock after buying an additional 1,119 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Pfizer were worth $463,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Pfizer by 8.8% during 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 in the last quarter. Norges Bank acquired a new position in Pfizer in the 4th quarter valued at approximately $2,129,927,000. Massachusetts Financial Services Co. MA lifted its position in Pfizer by 13.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after buying an additional 8,298,920 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after buying an additional 2,829,178 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PFE. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, August 19th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Morgan Stanley lifted their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. 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, Pfizer has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

NYSE PFE traded up $0.12 during midday trading on Friday, hitting $28.90. The company had a trading volume of 21,885,329 shares, compared to its average volume of 39,008,852. The firm has a fifty day simple moving average of $28.85 and a two-hundred day simple moving average of $27.96. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $36.94. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock has a market cap of $163.76 billion, a price-to-earnings ratio of -481.67, a P/E/G ratio of 0.98 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping 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 business had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same period last year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts forecast that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a $0.42 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.81%. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

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.