Pfizer Inc. (NYSE:PFE) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its position in shares of Pfizer Inc. (NYSE:PFE) by 7.4% in the second quarter, HoldingsChannel.com reports. The fund owned 2,415,955 shares of the biopharmaceutical company’s stock after acquiring an additional 166,281 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Pfizer were worth $67,598,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in Pfizer in the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC acquired a new stake in shares of Pfizer in the fourth quarter worth $32,000. Trivant Custom Portfolio Group LLC raised its holdings in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Pfizer in the fourth quarter valued at $36,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in Pfizer during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE opened at $28.80 on Tuesday. The company has a market cap of $163.20 billion, a P/E ratio of -480.25, a P/E/G ratio of 1.00 and a beta of 0.69. 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 twelve month low of $25.20 and a twelve month high of $37.19. The company’s 50-day moving average price is $28.76 and its 200-day moving average price is $27.92.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. On average, sell-side analysts forecast that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Barclays upped their price objective 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. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Profile

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.