Jeppson Wealth Management LLC Grows Stock Holdings in Pfizer Inc. (NYSE:PFE)

Jeppson Wealth Management LLC grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,660 shares of the biopharmaceutical company’s stock after acquiring an additional 1,025 shares during the period. Jeppson Wealth Management LLC’s holdings in Pfizer were worth $886,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PFE. Hourglass Capital LLC boosted its stake in Pfizer by 2.0% in the 2nd quarter. Hourglass Capital LLC now owns 287,310 shares of the biopharmaceutical company’s stock worth $8,039,000 after purchasing an additional 5,750 shares during the period. Arizona State Retirement System lifted its holdings in shares of Pfizer by 1.0% in the second quarter. Arizona State Retirement System now owns 1,637,035 shares of the biopharmaceutical company’s stock worth $45,804,000 after buying an additional 16,705 shares in the last quarter. Childress Capital Advisors LLC boosted its position in shares of Pfizer by 171.5% in the second quarter. Childress Capital Advisors LLC now owns 45,933 shares of the biopharmaceutical company’s stock valued at $1,285,000 after acquiring an additional 29,017 shares during the period. Victory Capital Management Inc. grew its stake in Pfizer by 0.7% during the second quarter. Victory Capital Management Inc. now owns 4,343,087 shares of the biopharmaceutical company’s stock valued at $121,520,000 after acquiring an additional 29,786 shares in the last quarter. Finally, Denver PWM LLC bought a new stake in Pfizer during the 2nd quarter worth approximately $146,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, August 19th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Wells Fargo & Company upped 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. UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Trading Up 0.8 %

NYSE PFE traded up $0.22 during trading on Friday, hitting $28.73. 1,777,022 shares of the company’s stock traded hands, compared to its average volume of 38,158,805. The stock has a fifty day moving average of $29.05 and a two-hundred day moving average of $28.04. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.64. The firm has a market cap of $162.80 billion, a P/E ratio of -475.09, a PEG ratio of 1.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. As a group, sell-side analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were 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 was Friday, July 26th. Pfizer’s payout ratio is -2,799.53%.

Pfizer 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.