Greystone Financial Group LLC Purchases 40,879 Shares of Pfizer Inc. (NYSE:PFE)

Greystone Financial Group LLC lifted its position in Pfizer Inc. (NYSE:PFE) by 19.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,845 shares of the biopharmaceutical company’s stock after buying an additional 40,879 shares during the period. Greystone Financial Group LLC’s holdings in Pfizer were worth $6,907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Pfizer by 4.9% in 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 period. Norges Bank bought a new stake in shares of Pfizer during the fourth quarter worth $2,129,927,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Van ECK Associates Corp lifted its position in Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after acquiring an additional 290,760 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in Pfizer by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 9,250,303 shares of the biopharmaceutical company’s stock worth $256,696,000 after purchasing an additional 83,556 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

Pfizer stock traded up $0.05 during trading hours on Friday, hitting $28.56. The company had a trading volume of 31,214,484 shares, compared to its average volume of 38,328,773. Pfizer Inc. has a one year low of $25.20 and a one year high of $34.64. The firm has a market cap of $161.84 billion, a PE ratio of -476.00, a PEG ratio of 1.02 and a beta of 0.68. The firm has a 50-day moving average of $29.06 and a 200 day moving average of $28.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last issued its quarterly earnings data 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 firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the prior year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.88%. Pfizer’s payout ratio is presently -2,800.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PFE shares. Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group lifted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.