Confluence Wealth Services Inc. Has $1.88 Million Stake in Pfizer Inc. (NYSE:PFE)

Confluence Wealth Services Inc. grew its position in Pfizer Inc. (NYSE:PFE) by 9.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 67,024 shares of the biopharmaceutical company’s stock after purchasing an additional 5,704 shares during the period. Confluence Wealth Services Inc.’s holdings in Pfizer were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FAS Wealth Partners Inc. grew its position in shares of Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after purchasing an additional 342 shares during the last quarter. Ironvine Capital Partners LLC grew its position in shares of Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 353 shares during the last quarter. Secure Asset Management LLC grew its position in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after purchasing an additional 353 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its position in shares of Pfizer by 0.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after purchasing an additional 355 shares during the last quarter. Finally, Continuum Advisory LLC grew its position in shares of Pfizer by 1.5% in the second quarter. Continuum Advisory LLC now owns 25,185 shares of the biopharmaceutical company’s stock valued at $705,000 after purchasing an additional 360 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday, August 19th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

Shares of PFE traded up $0.29 during trading hours on Friday, reaching $29.01. The stock had a trading volume of 37,137,599 shares, compared to its average volume of 38,496,418. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $36.29. The stock has a market capitalization of $164.39 billion, a PE ratio of -483.50, a PEG ratio of 0.98 and a beta of 0.69. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company’s 50-day moving average is $28.99 and its two-hundred day moving average is $28.01.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the company earned $0.67 EPS. Pfizer’s revenue was up 2.1% compared to the same quarter last year. Research analysts expect that Pfizer Inc. will post 2.68 EPS for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,800.00%.

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.