Fairhaven Wealth Management LLC Increases Stake in Pfizer Inc. (NYSE:PFE)

Fairhaven Wealth Management LLC lifted its stake in Pfizer Inc. (NYSE:PFE) by 13.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,391 shares of the biopharmaceutical company’s stock after purchasing an additional 1,091 shares during the quarter. Fairhaven Wealth Management LLC’s holdings in Pfizer were worth $263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFE. Olistico Wealth LLC acquired a new position in Pfizer in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer during the 2nd quarter worth approximately $29,000. Creekmur Asset Management LLC acquired a new stake in shares of Pfizer during the 4th quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC grew its stake in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, August 19th. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Barclays lifted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Price Performance

PFE stock traded up $0.29 during midday trading on Friday, reaching $29.01. The stock had a trading volume of 37,137,599 shares, compared to its average volume of 26,838,326. The company’s fifty day simple moving average is $28.99 and its 200 day simple moving average is $28.01. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a market cap of $164.39 billion, a price-to-earnings ratio of -483.42, a price-to-earnings-growth ratio of 1.02 and a beta of 0.69. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $36.29.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share 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 for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.79%. Pfizer’s dividend payout ratio is presently -2,799.53%.

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.