Resonant Capital Advisors LLC Raises Stake in Pfizer Inc. (NYSE:PFE)

Resonant Capital Advisors LLC raised its holdings in Pfizer Inc. (NYSE:PFE) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,369 shares of the biopharmaceutical company’s stock after acquiring an additional 4,505 shares during the period. Resonant Capital Advisors LLC’s holdings in Pfizer were worth $2,976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PFE. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in shares of Pfizer during the 4th quarter valued at about $2,601,000. Gilbert & Cook Inc. grew its position in Pfizer by 3.8% during the 4th quarter. Gilbert & Cook Inc. now owns 25,651 shares of the biopharmaceutical company’s stock worth $738,000 after acquiring an additional 945 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Pfizer by 3.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 29,864 shares of the biopharmaceutical company’s stock worth $860,000 after acquiring an additional 899 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in Pfizer by 4.7% during the 4th quarter. TCI Wealth Advisors Inc. now owns 15,227 shares of the biopharmaceutical company’s stock worth $438,000 after acquiring an additional 682 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in Pfizer by 16.0% during the 4th quarter. Metis Global Partners LLC now owns 304,749 shares of the biopharmaceutical company’s stock worth $8,774,000 after acquiring an additional 42,083 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, August 19th. Finally, Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight research 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 stock. Based on data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Performance

Shares of NYSE:PFE traded up $0.29 during midday trading on Monday, reaching $29.01. 37,137,602 shares of the company’s stock traded hands, compared to its average volume of 38,496,539. The company has a market cap of $164.39 billion, a price-to-earnings ratio of -483.50, a P/E/G ratio of 1.02 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 Inc. has a one year low of $25.20 and a one year high of $36.29. The stock has a 50 day moving average of $28.99 and a 200 day moving average of $28.02.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,800.00%.

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.