Perennial Investment Advisors LLC Buys 1,358 Shares of Pfizer Inc. (NYSE:PFE)

Perennial Investment Advisors LLC increased its stake in Pfizer Inc. (NYSE:PFE) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,549 shares of the biopharmaceutical company’s stock after buying an additional 1,358 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Pfizer were worth $435,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer in the second quarter worth about $29,000. Creekmur Asset Management LLC purchased a new position in shares of Pfizer during the fourth quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC grew 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 buying an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer in the second quarter worth approximately $34,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Down 0.8 %

Pfizer stock opened at $29.83 on Wednesday. The business has a fifty day moving average of $29.30 and a two-hundred day moving average of $28.18. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a market cap of $169.04 billion, a P/E ratio of -497.08, 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 $34.12.

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

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued 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 yield of 5.63%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PFE. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays boosted their target price 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. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight equities research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.