Pfizer Inc. (NYSE:PFE) Stock Position Lifted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in Pfizer Inc. (NYSE:PFE) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,794,056 shares of the biopharmaceutical company’s stock after acquiring an additional 2,241,609 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Pfizer were worth $2,008,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of Pfizer in the 4th quarter worth about $16,166,000. LGT Group Foundation boosted its stake in Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after acquiring an additional 18,274 shares during the period. ORG Partners LLC grew its holdings in shares of Pfizer by 1,729.9% during the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after purchasing an additional 44,458 shares during the last quarter. Kempner Capital Management Inc. acquired a new stake in shares of Pfizer during the 1st quarter worth approximately $2,439,000. Finally, Leo Wealth LLC bought a new stake in shares of Pfizer in the 4th quarter worth approximately $2,171,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFE has been the topic of a number of recent research reports. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, UBS Group raised their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

NYSE:PFE opened at $29.27 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $29.21 and its 200 day moving average price is $28.13. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.42. The firm has a market cap of $165.86 billion, a P/E ratio of -487.83, a PEG ratio of 1.04 and a beta of 0.68.

Pfizer (NYSE:PFE) last released its 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 for 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 business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. As a group, sell-side analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio is presently -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.