Pfizer Inc. (NYSE:PFE) Shares Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC increased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 349,690 shares of the biopharmaceutical company’s stock after purchasing an additional 16,472 shares during the quarter. Pfizer accounts for approximately 2.4% of Sierra Summit Advisors LLC’s portfolio, making the stock its 15th biggest position. Sierra Summit Advisors LLC’s holdings in Pfizer were worth $9,784,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Olistico Wealth LLC acquired a new position in Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer in the 2nd quarter valued at $29,000. Creekmur Asset Management LLC purchased a new position in Pfizer during the 4th quarter valued at about $32,000. Trivant Custom Portfolio Group LLC grew its position in 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 acquiring an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new position in shares of Pfizer in the second quarter valued at approximately $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 commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, September 9th. Barclays lifted their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Eight 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Performance

NYSE PFE opened at $29.27 on Monday. The company has a market capitalization of $165.86 billion, a P/E ratio of -487.83, a PEG ratio of 1.04 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.42. The business has a 50 day moving average price of $29.21 and a 200 day moving average price of $28.13.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 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 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 company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. Sell-side analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend 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.