Wulff Hansen & CO. Increases Stake in Pfizer Inc. (NYSE:PFE)

Wulff Hansen & CO. raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2,698.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 269,000 shares of the biopharmaceutical company’s stock after acquiring an additional 259,386 shares during the quarter. Wulff Hansen & CO.’s holdings in Pfizer were worth $7,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PFE. FAS Wealth Partners Inc. raised its position in shares of Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 342 shares during the last quarter. Sachetta LLC lifted its stake in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 342 shares in the last quarter. Ironvine Capital Partners LLC boosted its holdings in shares of Pfizer by 2.1% during the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after purchasing an additional 353 shares during the last quarter. Secure Asset Management LLC grew its position in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after purchasing an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its position in Pfizer by 0.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PFE. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays raised their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Trading Up 2.7 %

Shares of NYSE PFE opened at $30.07 on Tuesday. The stock has a fifty day simple moving average of $29.26 and a 200-day simple moving average of $28.15. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.12. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $170.40 billion, a PE ratio of -501.08, a PEG ratio of 1.02 and a beta of 0.68.

Pfizer (NYSE:PFE) last issued its quarterly 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. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.59%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

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.