Connable Office Inc. Raises Holdings in Pfizer Inc. $PFE

Connable Office Inc. grew its position in shares of Pfizer Inc. (NYSE:PFE) by 14.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,421 shares of the biopharmaceutical company’s stock after buying an additional 4,324 shares during the period. Connable Office Inc.’s holdings in Pfizer were worth $834,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Pfizer by 1,282.4% during the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock worth $17,677,000 after acquiring an additional 618,117 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Pfizer by 12.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock worth $498,000 after buying an additional 2,087 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Pfizer by 13.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,402,113 shares of the biopharmaceutical company’s stock worth $263,590,000 after buying an additional 1,231,296 shares during the period. Capital Advisors Inc. OK lifted its holdings in Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company’s stock worth $35,817,000 after buying an additional 17,032 shares during the period. Finally, OLD Republic International Corp lifted its stake in shares of Pfizer by 0.6% in the 1st quarter. OLD Republic International Corp now owns 1,623,700 shares of the biopharmaceutical company’s stock valued at $41,145,000 after purchasing an additional 9,000 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE PFE opened at $24.69 on Tuesday. The firm has a market cap of $140.40 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.81 and a beta of 0.55. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $24.76 and a 200-day moving average price of $24.31. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $28.14.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.20. The company had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, November 7th. This represents a $1.72 dividend on an annualized basis and a yield of 7.0%. Pfizer’s dividend payout ratio is 91.49%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PFE shares. UBS Group reiterated a “neutral” rating and set a $28.00 price objective on shares of Pfizer in a research note on Wednesday, October 1st. Morgan Stanley decreased their price target on Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, October 10th. Wall Street Zen lowered Pfizer from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. Finally, Bank of America lifted their price objective on Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.24.

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.