Old Port Advisors Buys 11,288 Shares of Pfizer Inc. $PFE

Key Points

• Old Port Advisors increased its stake in Pfizer Inc. by 12.6%, adding 11,288 shares to bring its total holdings to 100,581 shares valued at $2.438 million.
• Pfizer's stock has received various ratings upgrades, with Morgan Stanley raising its target price from $32 to $33, reflecting a positive outlook on the company's performance.
• Pfizer reported a strong fiscal quarter with earnings of $0.78 EPS, exceeding analyst expectations of $0.58, and a revenue of $14.65 billion, up 10.3% year-over-year.

Old Port Advisors raised its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 12.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 100,581 shares of the biopharmaceutical company's stock after purchasing an additional 11,288 shares during the quarter. Old Port Advisors' holdings in Pfizer were worth $2,438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in Pfizer by 11.1% in the first 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 increased its stake in shares of Pfizer by 1.2% during the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock valued at $35,817,000 after buying an additional 17,032 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Pfizer during the first quarter valued at approximately $8,283,000. Westbourne Investments Inc. purchased a new position in shares of Pfizer during the first quarter valued at approximately $2,411,000. Finally, Bourne Lent Asset Management Inc. increased its stake in shares of Pfizer by 90.8% during the second quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company's stock valued at $927,000 after buying an additional 18,200 shares during the period. Institutional investors own 68.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PFE shares. Morgan Stanley boosted their target price on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Citigroup boosted their target price on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Pfizer from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Finally, Bank of America upped their price target on Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $28.12.

Pfizer Trading Up 0.6%

NYSE PFE opened at $23.75 on Friday. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $30.43. The stock has a market cap of $135.03 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.76 and a beta of 0.55. The stock's fifty day moving average price is $24.55 and its 200-day moving average price is $24.14. 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 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 firm had revenue of $14.65 billion for the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The company's quarterly revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

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.

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