Norden Group LLC Acquires 15,994 Shares of Pfizer Inc. (NYSE:PFE)

Norden Group LLC grew its holdings in shares of Pfizer Inc. (NYSE:PFE) by 52.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,330 shares of the biopharmaceutical company’s stock after purchasing an additional 15,994 shares during the quarter. Norden Group LLC’s holdings in Pfizer were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PFE. Olistico Wealth LLC bought a new position in Pfizer in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer in the 2nd quarter worth $29,000. Creekmur Asset Management LLC bought a new position in Pfizer in the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the 2nd quarter worth $34,000. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PFE shares. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. 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. Finally, StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Eight 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 has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

Shares of Pfizer stock traded up $0.05 during trading on Friday, hitting $28.56. 31,214,484 shares of the company’s stock traded hands, compared to its average volume of 38,328,773. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm’s fifty day moving average price is $29.06 and its 200 day moving average price is $28.05. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.64. The company has a market cap of $161.84 billion, a PE ratio of -476.00, a PEG ratio of 1.02 and a beta of 0.68.

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

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.88%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,800.00%.

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.