Lynch Asset Management Inc. Purchases 400 Shares of Pfizer Inc. (NYSE:PFE)

Lynch Asset Management Inc. raised its position in shares of Pfizer Inc. (NYSE:PFE) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 44,900 shares of the biopharmaceutical company’s stock after buying an additional 400 shares during the quarter. Lynch Asset Management Inc.’s holdings in Pfizer were worth $1,299,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Marshall Wace LLP lifted its position in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares in the last quarter. Swedbank AB purchased a new position in shares of Pfizer during the 1st quarter valued at about $172,902,000. International Assets Investment Management LLC purchased a new position in shares of Pfizer during the 3rd quarter valued at about $146,481,000. Pzena Investment Management LLC lifted its position in shares of Pfizer by 181.6% during the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after buying an additional 4,947,000 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after buying an additional 2,829,178 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PFE. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Price Performance

Shares of PFE traded down $0.19 during mid-day trading on Friday, hitting $28.45. 26,091,111 shares of the stock were exchanged, compared to its average volume of 36,849,277. The company has a market cap of $161.21 billion, a PE ratio of -474.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The firm has a 50-day moving average of $29.08 and a two-hundred day moving average of $28.51. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last issued 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 business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. On average, equities analysts predict that Pfizer Inc. will post 2.67 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.91%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently -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.