Grant Private Wealth Management Inc Takes $2.98 Million Position in Pfizer Inc. $PFE

Key Points

• Grant Private Wealth Management Inc has acquired 123,031 new shares of Pfizer Inc. in Q2, valued at approximately $2.98 million, making Pfizer the 23rd largest position in its portfolio.
• Several institutional investors, including Vanguard Group and Northern Trust Corp, have recently increased their stakes in Pfizer, reflecting strong institutional backing with 68.36% of the stock owned by institutional investors.
• The recent earnings report showed Pfizer exceeding expectations with an EPS of $0.78 against an estimate of $0.58, alongside a year-over-year revenue increase of 10.3%, highlighting the company's solid financial performance.

Grant Private Wealth Management Inc bought a new stake in Pfizer Inc. (NYSE:PFE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 123,031 shares of the biopharmaceutical company's stock, valued at approximately $2,982,000. Pfizer makes up 1.7% of Grant Private Wealth Management Inc's holdings, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in Pfizer by 11.1% during the 1st quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after purchasing an additional 13,228 shares during the last quarter. Capital Advisors Inc. OK raised its stake in Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock worth $35,817,000 after purchasing an additional 17,032 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Pfizer in the first quarter valued at about $8,283,000. Westbourne Investments Inc. acquired a new position in Pfizer in the first quarter valued at about $2,411,000. Finally, Bourne Lent Asset Management Inc. raised its stake in Pfizer by 90.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company's stock valued at $927,000 after purchasing an additional 18,200 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Price Performance

Shares of PFE traded up $0.15 during trading hours on Tuesday, reaching $24.19. 24,106,205 shares of the company's stock traded hands, compared to its average volume of 45,268,129. The firm's 50 day simple moving average is $24.61 and its 200-day simple moving average is $24.18. The stock has a market cap of $137.51 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.78 and a beta of 0.55. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $30.43. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.Pfizer's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Friday, July 25th. Pfizer's payout ratio is 91.49%.

Analyst Ratings Changes

Several brokerages have commented on PFE. Morgan Stanley boosted their target price on Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Citigroup upped their target price on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Bank of America upped their target price on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Berenberg Bank reduced their target price on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Finally, Wall Street Zen upgraded Pfizer from a "hold" rating to a "buy" rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $28.12.

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.