Pfizer Inc. (NYSE:PFE) Stake Raised by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,803,509 shares of the biopharmaceutical company’s stock after buying an additional 912,156 shares during the period. Pfizer accounts for 3.9% of Thornburg Investment Management Inc.’s investment portfolio, making the stock its 4th biggest position. Thornburg Investment Management Inc. owned approximately 0.17% of Pfizer worth $274,302,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Pfizer during the fourth quarter worth about $16,166,000. LGT Group Foundation lifted its holdings in shares of Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after acquiring an additional 18,274 shares during the period. First Heartland Consultants Inc. boosted its position in shares of Pfizer by 43.3% in the fourth quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock worth $375,000 after acquiring an additional 3,933 shares during the last quarter. ORG Partners LLC boosted its position in shares of Pfizer by 1,729.9% in the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 44,458 shares during the last quarter. Finally, Kempner Capital Management Inc. purchased a new stake in Pfizer in the first quarter valued at approximately $2,439,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group upped their price target 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 report on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Trading Down 0.3 %

NYSE PFE opened at $29.64 on Thursday. The stock has a market cap of $167.96 billion, a P/E ratio of -494.00, a PEG ratio of 1.00 and a beta of 0.68. The company’s fifty day simple moving average is $29.16 and its 200-day simple moving average is $28.09. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.62.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. Equities research analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.67%. 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.