L. Roy Papp & Associates LLP Increases Stock Position in Pfizer Inc. (NYSE:PFE)

L. Roy Papp & Associates LLP boosted its position in Pfizer Inc. (NYSE:PFE) by 8.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,012 shares of the biopharmaceutical company’s stock after acquiring an additional 1,435 shares during the period. L. Roy Papp & Associates LLP’s holdings in Pfizer were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after acquiring an additional 8,473,686 shares during the period. Norges Bank bought a new stake in Pfizer in the fourth quarter valued at $2,129,927,000. Massachusetts Financial Services Co. MA increased its position in Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after purchasing an additional 8,298,920 shares during the period. Finally, Van ECK Associates Corp increased its position in Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after purchasing an additional 2,829,178 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

Shares of NYSE:PFE traded up $0.12 during midday trading on Friday, reaching $28.90. 21,838,436 shares of the company’s stock traded hands, compared to its average volume of 39,008,832. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a one year low of $25.20 and a one year high of $36.94. The company has a market cap of $163.76 billion, a price-to-earnings ratio of -481.67, a P/E/G ratio of 0.98 and a beta of 0.69. The stock has a 50 day moving average of $28.83 and a 200 day moving average of $27.94.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.68 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.81%. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

Analyst Upgrades and Downgrades

PFE has been the topic of several research analyst reports. UBS Group boosted 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. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

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.