Franklin Street Advisors Inc. NC Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Franklin Street Advisors Inc. NC raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 32.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,342 shares of the biopharmaceutical company’s stock after purchasing an additional 13,643 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Pfizer were worth $1,631,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PFE. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the second quarter worth about $29,000. Quarry LP purchased a new stake in Pfizer in the second quarter worth about $31,000. Creekmur Asset Management LLC purchased a new position in Pfizer during the 4th quarter valued at about $32,000. Finally, Trivant Custom Portfolio Group LLC boosted its stake in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

PFE traded down $0.21 during trading on Friday, hitting $29.13. The company’s stock had a trading volume of 3,001,281 shares, compared to its average volume of 37,258,785. 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 firm has a market capitalization of $165.07 billion, a price-to-earnings ratio of -489.00, a P/E/G ratio of 1.30 and a beta of 0.67. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $33.92. The business’s fifty day simple moving average is $29.06 and its 200 day simple moving average is $28.37.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $0.67 EPS. On average, equities research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.77%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PFE. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Barclays raised 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. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.