Letko Brosseau & Associates Inc. Grows Position in Pfizer Inc. (NYSE:PFE)

Letko Brosseau & Associates Inc. boosted its position in shares of Pfizer Inc. (NYSE:PFE) by 3.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,243,383 shares of the biopharmaceutical company’s stock after acquiring an additional 114,285 shares during the quarter. Pfizer accounts for approximately 1.7% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 19th biggest position. Letko Brosseau & Associates Inc. owned 0.06% of Pfizer worth $90,750,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new position in Pfizer during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the 2nd quarter valued at about $29,000. Creekmur Asset Management LLC purchased a new position in shares of Pfizer in the 4th quarter valued at about $32,000. Trivant Custom Portfolio Group LLC boosted its stake in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 600 shares during the period. Finally, Financial Connections Group Inc. purchased a new position in shares of Pfizer in the 2nd quarter valued at about $34,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays lifted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group lifted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised 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. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Performance

PFE traded up $0.05 during trading on Friday, hitting $28.56. 31,214,484 shares of the stock were exchanged, compared to its average volume of 38,328,773. The firm has a market capitalization of $161.84 billion, a P/E ratio of -476.00, a PEG ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.64. The stock has a fifty day moving average price of $29.06 and a two-hundred day moving average price of $28.05. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. As a group, sell-side analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

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

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.