Sunbelt Securities Inc. Raises Holdings in Pfizer Inc. (NYSE:PFE)

Sunbelt Securities Inc. lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 9.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,258 shares of the biopharmaceutical company’s stock after purchasing an additional 5,350 shares during the period. Sunbelt Securities Inc.’s holdings in Pfizer were worth $1,686,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Pfizer by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares in the last quarter. Federated Hermes Inc. boosted its position in Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after acquiring an additional 470,003 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in 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 during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PFE shares. UBS Group raised their target price 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. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eight investment 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Performance

NYSE:PFE opened at $29.09 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $164.84 billion, a price-to-earnings ratio of -484.83, a PEG ratio of 1.27 and a beta of 0.68. The firm’s fifty day simple moving average is $29.31 and its 200 day simple moving average is $28.30. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.11.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The business 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 business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

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.