TSG Advice Partners LLC Makes New Investment in Pfizer Inc. $PFE
by Sarita Garza · The Markets DailyTSG Advice Partners LLC bought a new position in shares of Pfizer Inc. (NYSE:PFE – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 28,324 shares of the biopharmaceutical company’s stock, valued at approximately $808,000.
Other large investors have also bought and sold shares of the company. BlackRock Inc. increased its stake in Pfizer by 6.3% in the second quarter. BlackRock Inc. now owns 529,670,433 shares of the biopharmaceutical company’s stock valued at $12,754,464,000 after purchasing an additional 31,412,883 shares in the last quarter. State Street Corp raised its holdings in shares of Pfizer by 1.8% during the second quarter. State Street Corp now owns 307,090,897 shares of the biopharmaceutical company’s stock valued at $7,394,749,000 after purchasing an additional 5,501,032 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Pfizer by 11.1% during the 1st quarter. Bank of New York Mellon Corp now owns 53,879,900 shares of the biopharmaceutical company’s stock worth $1,512,948,000 after purchasing an additional 5,364,929 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Pfizer during the 2nd quarter worth about $1,049,602,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Pfizer by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 36,422,799 shares of the biopharmaceutical company’s stock valued at $1,022,606,000 after buying an additional 293,029 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.
Key Pfizer News
Here are the key news stories impacting Pfizer this week:
- Positive Sentiment: Analysts are watching Pfizer’s obesity pipeline for evidence of a potential long-term growth opportunity. A successful update could help offset concerns about slower growth elsewhere in the business. Pfizer Q3 preview: Analysts look to obesity pipeline amid diverging growth expectations
- Positive Sentiment: Pfizer’s roughly 6% dividend yield continues to appeal to income-oriented investors. At that yield, generating $500 in monthly dividend income would require approximately $106,454 invested, assuming the payout remains unchanged. How To Earn $500 a Month From Pfizer Stock Ahead of Q3 Earnings
- Neutral Sentiment: Pfizer is scheduled to report third-quarter results before the market open on November 3. The consensus forecast calls for earnings per share of $0.73 and revenue of $15.88 billion, making guidance and any changes to full-year expectations especially important. Top Wall Street Forecasters Revamp Pfizer Expectations Ahead Of Q3 Earnings
- Neutral Sentiment: Wall Street views are mixed, while Goldman Sachs expects an essentially in-line quarter. The divided outlook increases the likelihood of a significant stock reaction if Pfizer’s results or pipeline commentary differ from expectations. Pfizer Q3 preview: Goldman sees in-line quarter, pipeline in focus
- Negative Sentiment: The expected $0.73 quarterly EPS would be below the year-earlier result, signaling continued earnings pressure even though projected revenue of $15.88 billion would represent a solid quarterly base. What to expect from Pfizer’s Q3 earnings
Analyst Ratings Changes
A number of brokerages recently commented on PFE. BMO Capital Markets decreased their target price on Pfizer from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. JPMorgan Chase & Co. raised their price objective on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 9th. Wall Street Zen downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. HSBC boosted their price objective on Pfizer from $28.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, September 10th. Finally, Scotiabank upped their target price on Pfizer from $30.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 6th. Five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.65.
View Our Latest Research Report on PFE
Pfizer Trading Up 0.7%
NYSE:PFE opened at $30.73 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.27 and a quick ratio of 0.96. The firm has a 50-day moving average of $28.60 and a 200-day moving average of $26.82. The company has a market cap of $175.16 billion, a PE ratio of 40.44, a PEG ratio of 2.00 and a beta of 0.32. Pfizer Inc. has a one year low of $23.62 and a one year high of $31.04.
Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.09. The business had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.40 billion. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.94 EPS for the current fiscal year.
Pfizer Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Friday, November 6th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.72 annualized dividend and a dividend yield of 5.6%. Pfizer’s dividend payout ratio is 226.32%.
Pfizer Company Profile
Pfizer Inc is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its research activities span areas including oncology, internal medicine, inflammation and immunology, hospital care, infectious diseases and rare diseases.
The company’s portfolio includes medicines such as Eliquis, Ibrance, Prevnar and Vyndaqel, as well as vaccines including Comirnaty, Abrysvo and Prevnar. Pfizer also develops treatments through internal research, licensing agreements and collaborations with other pharmaceutical and biotechnology companies.
Founded in Brooklyn, New York, in 1849 by Charles Pfizer and Charles Erhart, Pfizer has grown into an international healthcare company serving patients and healthcare providers in markets around the world.
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