Quest Partners LLC Takes $570,000 Position in Pfizer Inc. (NYSE:PFE)

Quest Partners LLC bought a new position in Pfizer Inc. (NYSE:PFE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,362 shares of the biopharmaceutical company’s stock, valued at approximately $570,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Olistico Wealth LLC bought a new position in shares of Pfizer during the second quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer in the second quarter valued at $29,000. Creekmur Asset Management LLC purchased a new position in Pfizer during the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC raised its holdings 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 worth $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer in the 2nd quarter worth about $34,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Down 0.3 %

Shares of NYSE:PFE opened at $29.64 on Thursday. The stock’s fifty day moving average price is $29.16 and its 200-day moving average price is $28.09. 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 company has a market cap of $167.96 billion, a P/E ratio of -494.00, a PEG ratio of 1.00 and a beta of 0.68. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.62.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating 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 the consensus estimate of $12.96 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side 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 was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.67%. Pfizer’s payout ratio is -2,800.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group lifted their price target 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. Finally, Barclays upped their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.