Lazari Capital Management Inc. Grows Stock Position in Pfizer Inc. (NYSE:PFE)

Lazari Capital Management Inc. increased its position in shares of Pfizer Inc. (NYSE:PFE) by 17.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,224 shares of the biopharmaceutical company’s stock after purchasing an additional 3,329 shares during the quarter. Lazari Capital Management Inc.’s holdings in Pfizer were worth $643,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. FAS Wealth Partners Inc. raised its position in shares of Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 342 shares during the last quarter. Sachetta LLC lifted its stake in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 342 shares in the last quarter. Ironvine Capital Partners LLC boosted its holdings in shares of Pfizer by 2.1% during the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after purchasing an additional 353 shares during the last quarter. Secure Asset Management LLC increased its holdings in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after purchasing an additional 353 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its position in Pfizer by 0.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.3 %

Shares of NYSE:PFE opened at $28.85 on Wednesday. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock has a market cap of $163.45 billion, a P/E ratio of -480.75, a P/E/G ratio of 1.02 and a beta of 0.67. The firm has a fifty day moving average price of $29.07 and a 200 day moving average price of $28.48.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 earnings per share. Sell-side analysts predict that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.82%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PFE. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Thursday, October 3rd. Finally, UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.91.

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.