Wakefield Asset Management LLLP Makes New $454,000 Investment in Pfizer Inc. (NYSE:PFE)

Wakefield Asset Management LLLP acquired a new stake in shares of Pfizer Inc. (NYSE:PFE) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 16,219 shares of the biopharmaceutical company’s stock, valued at approximately $454,000.

Several other hedge funds have also modified their holdings of PFE. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Pfizer during the fourth quarter worth about $16,166,000. First Heartland Consultants Inc. raised its holdings in Pfizer by 43.3% in the fourth quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 3,933 shares during the period. ORG Partners LLC lifted its position in Pfizer by 1,729.9% during the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after buying an additional 44,458 shares in the last quarter. Kempner Capital Management Inc. purchased a new stake in Pfizer during the first quarter worth approximately $2,439,000. Finally, Leo Wealth LLC acquired a new stake in shares of Pfizer in the fourth quarter worth $2,171,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFE has been the topic of several recent research reports. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company upped their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group raised their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, August 19th. Finally, Barclays lifted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Price Performance

Shares of PFE stock opened at $28.56 on Friday. The firm has a market cap of $161.84 billion, a P/E ratio of -476.00, a P/E/G ratio of 1.02 and a beta of 0.68. The firm has a fifty day moving average of $29.06 and a two-hundred day moving average of $28.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.64.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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 firm had revenue of $13.28 billion during 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%. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,800.00%.

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.