Waypoint Capital Advisors LLC Boosts Stake in Pfizer Inc. (NYSE:PFE)

Waypoint Capital Advisors LLC increased its stake in Pfizer Inc. (NYSE:PFE) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,980 shares of the biopharmaceutical company’s stock after acquiring an additional 468 shares during the period. Waypoint Capital Advisors LLC’s holdings in Pfizer were worth $260,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp boosted its stake in Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after buying an additional 290,760 shares in the last quarter. Federated Hermes Inc. grew its position in Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after acquiring an additional 238,850 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its holdings in shares of Pfizer by 10.3% in the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after acquiring an additional 912,156 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of PFE stock opened at $29.22 on Friday. The firm has a market capitalization of $165.58 billion, a price-to-earnings ratio of -487.00, a PEG ratio of 1.02 and a beta of 0.67. The stock has a fifty day moving average of $29.07 and a 200 day moving average of $28.44. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period last year, the company posted $0.67 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The company 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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Analysts Set New Price Targets

Several research firms recently commented on PFE. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Thursday, October 3rd. Finally, UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.91.

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.