Matrix Asset Advisors Inc. NY Has $8.32 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

Matrix Asset Advisors Inc. NY grew its position in Pfizer Inc. (NYSE:PFE) by 7.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 297,256 shares of the biopharmaceutical company’s stock after buying an additional 19,377 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Pfizer were worth $8,317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after buying an additional 8,473,686 shares during the period. Norges Bank bought a new position in Pfizer in the fourth quarter valued at approximately $2,129,927,000. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after acquiring an additional 2,829,178 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.4 %

PFE traded down $0.10 during trading on Monday, hitting $28.45. The company had a trading volume of 21,134,306 shares, compared to its average volume of 39,705,348. The company has a market capitalization of $161.21 billion, a PE ratio of -474.09, a PEG ratio of 1.02 and a beta of 0.69. The company has a quick ratio of 0.78, 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 $37.19. The firm’s 50-day moving average price is $28.78 and its 200 day moving average price is $27.87.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 earnings per share. As a group, equities analysts expect that Pfizer Inc. will post 2.68 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PFE shares. Wells Fargo & Company raised their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Morgan Stanley upped their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Eight equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.