Granite Harbor Advisors Inc. Purchases New Shares in Pfizer Inc. (NYSE:PFE)

Granite Harbor Advisors Inc. acquired a new stake in Pfizer Inc. (NYSE:PFE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,236 shares of the biopharmaceutical company’s stock, valued at approximately $209,000.

Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after purchasing an additional 290,760 shares during the period. Federated Hermes Inc. raised its holdings in Pfizer by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after acquiring an additional 238,850 shares in the last quarter. Finally, Thornburg Investment Management Inc. grew its holdings in Pfizer by 10.3% during the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock valued at $274,302,000 after buying an additional 912,156 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.5 %

Shares of NYSE PFE traded down $0.16 during midday trading on Monday, reaching $29.00. The company had a trading volume of 5,136,444 shares, compared to its average volume of 37,230,977. The firm’s fifty day moving average price is $29.04 and its 200-day moving average price is $28.39. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a one year low of $25.20 and a one year high of $33.92. The stock has a market cap of $164.33 billion, a PE ratio of -483.33, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating 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 firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.79%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PFE. UBS Group raised their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company raised their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a 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 equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned 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 target price of $34.54.

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.