Kings Path Partners LLC Makes New $80,000 Investment in Pfizer Inc. (NYSE:PFE)

Kings Path Partners LLC acquired a new stake in Pfizer Inc. (NYSE:PFE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,850 shares of the biopharmaceutical company’s stock, valued at approximately $80,000.

A number of other hedge funds have also recently made changes to their positions in the business. TFB Advisors LLC boosted its holdings in shares of Pfizer by 16.2% during the 2nd quarter. TFB Advisors LLC now owns 15,322 shares of the biopharmaceutical company’s stock valued at $429,000 after purchasing an additional 2,133 shares during the last quarter. Moloney Securities Asset Management LLC lifted its position in Pfizer by 26.6% in the second quarter. Moloney Securities Asset Management LLC now owns 15,301 shares of the biopharmaceutical company’s stock worth $428,000 after buying an additional 3,213 shares during the last quarter. Garland Capital Management Inc. boosted its stake in Pfizer by 1.7% during the second quarter. Garland Capital Management Inc. now owns 138,222 shares of the biopharmaceutical company’s stock worth $3,867,000 after buying an additional 2,376 shares during the period. Forum Financial Management LP increased its position in Pfizer by 14.3% during the second quarter. Forum Financial Management LP now owns 65,561 shares of the biopharmaceutical company’s stock valued at $1,834,000 after acquiring an additional 8,219 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Pfizer by 2.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 664,300 shares of the biopharmaceutical company’s stock valued at $18,587,000 after acquiring an additional 18,674 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 1.0 %

PFE stock opened at $29.00 on Friday. 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 firm’s fifty day simple moving average is $28.97 and its 200-day simple moving average is $28.00. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $36.29. The company has a market capitalization of $164.33 billion, a P/E ratio of -483.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.69.

Pfizer (NYSE:PFE) last announced its quarterly 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 company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. As a group, equities research analysts forecast that Pfizer Inc. will post 2.68 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders 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 yield of 5.79%. The ex-dividend date is Friday, July 26th. Pfizer’s payout ratio is presently -2,800.00%.

Analysts Set New Price Targets

Several equities analysts recently commented on PFE shares. Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has a consensus 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.