Meridian Wealth Partners LLC Has $300,000 Stock Position in Pfizer Inc. (NYSE:PFE)

Meridian Wealth Partners LLC boosted its position in Pfizer Inc. (NYSE:PFE) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,737 shares of the biopharmaceutical company’s stock after buying an additional 1,664 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Pfizer were worth $300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. E Fund Management Co. Ltd. grew its position in shares of Pfizer by 9.7% in the second quarter. E Fund Management Co. Ltd. now owns 41,469 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 3,683 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in Pfizer by 3.2% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 271,120 shares of the biopharmaceutical company’s stock valued at $7,586,000 after buying an additional 8,375 shares during the last quarter. Lumbard & Kellner LLC increased its position in Pfizer by 8.0% in the 2nd quarter. Lumbard & Kellner LLC now owns 113,901 shares of the biopharmaceutical company’s stock worth $3,187,000 after buying an additional 8,454 shares during the period. Perennial Investment Advisors LLC lifted its holdings in shares of Pfizer by 9.6% during the second quarter. Perennial Investment Advisors LLC now owns 15,549 shares of the biopharmaceutical company’s stock worth $435,000 after buying an additional 1,358 shares during the last quarter. Finally, Denali Advisors LLC boosted its position in shares of Pfizer by 8.2% in the second quarter. Denali Advisors LLC now owns 31,600 shares of the biopharmaceutical company’s stock valued at $884,000 after acquiring an additional 2,400 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Pfizer stock opened at $29.83 on Wednesday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.12. 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 fifty day moving average price of $29.30 and a two-hundred day moving average price of $28.18. The firm has a market capitalization of $169.04 billion, a P/E ratio of -497.08, a P/E/G ratio of 1.02 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. As a group, analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.63%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research reports. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group upped their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday. Wells Fargo & Company boosted their price target on 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 lifted their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Company 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.