Grant Private Wealth Management Inc Makes New $2.98 Million Investment 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 acquired a new stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 123,031 shares of the biopharmaceutical company's stock, valued at approximately $2,982,000. Pfizer comprises about 1.7% of Grant Private Wealth Management Inc's investment portfolio, making the stock its 23rd largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in shares of Pfizer by 58.9% in the second quarter. Farther Finance Advisors LLC now owns 135,499 shares of the biopharmaceutical company's stock worth $3,284,000 after buying an additional 50,209 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Pfizer by 2.0% in the second quarter. Wedge Capital Management L L P NC now owns 1,282,259 shares of the biopharmaceutical company's stock worth $31,082,000 after buying an additional 24,736 shares during the last quarter. CX Institutional lifted its position in shares of Pfizer by 50.6% in the second quarter. CX Institutional now owns 47,032 shares of the biopharmaceutical company's stock worth $1,140,000 after buying an additional 15,797 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its position in shares of Pfizer by 1.2% in the second quarter. Caldwell Sutter Capital Inc. now owns 65,226 shares of the biopharmaceutical company's stock worth $1,581,000 after buying an additional 769 shares during the last quarter. Finally, My Legacy Advisors LLC lifted its position in shares of Pfizer by 105.1% in the second quarter. My Legacy Advisors LLC now owns 25,278 shares of the biopharmaceutical company's stock worth $652,000 after buying an additional 12,951 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

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

Pfizer Stock Performance

Pfizer stock traded up $0.02 during trading hours on Monday, hitting $24.05. The stock had a trading volume of 67,725,099 shares, compared to its average volume of 45,384,523. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $30.43. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $24.63 and a two-hundred day moving average of $24.20. The company has a market cap of $136.74 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.78 and a beta of 0.55.

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

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, July 25th were given a dividend of $0.43 per share. The ex-dividend date was Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 7.2%. Pfizer's dividend payout ratio is 91.49%.

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.