Norden Group LLC Buys 15,994 Shares of Pfizer Inc. (NYSE:PFE)

Norden Group LLC grew its stake in Pfizer Inc. (NYSE:PFE) by 52.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,330 shares of the biopharmaceutical company’s stock after acquiring an additional 15,994 shares during the period. Norden Group LLC’s holdings in Pfizer were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PFE. Norges Bank bought a new position in shares of Pfizer in the fourth quarter worth about $2,129,927,000. Wellington Management Group LLP raised its stake in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Pfizer by 13.8% in 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 last quarter. Swedbank AB bought a new position in shares of Pfizer in the first quarter worth about $172,902,000. Finally, Pzena Investment Management LLC raised its stake in shares of Pfizer by 181.6% in the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after acquiring an additional 4,947,000 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. UBS Group boosted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Eight investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Up 0.2 %

Shares of Pfizer stock traded up $0.05 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. The firm has a market capitalization of $161.84 billion, a P/E ratio of -476.00, a P/E/G ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock has a 50-day moving average of $29.06 and a 200-day moving average of $28.05.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. Research analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

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.