Brookstone Capital Management Buys 139,895 Shares of Pfizer Inc. (NYSE:PFE)

Brookstone Capital Management boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 139.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,983 shares of the biopharmaceutical company’s stock after buying an additional 139,895 shares during the quarter. Brookstone Capital Management’s holdings in Pfizer were worth $8,527,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC raised its stake in shares of Pfizer by 89,592.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after acquiring an additional 160,963,976 shares in the last quarter. Norges Bank purchased a new position in Pfizer during the 4th quarter worth $3,150,472,000. Wellington Management Group LLP raised its position in Pfizer by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 218,931,933 shares of the biopharmaceutical company’s stock valued at $8,932,423,000 after purchasing an additional 19,602,359 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Pfizer by 1,034.0% during the 1st quarter. Renaissance Technologies LLC now owns 12,149,955 shares of the biopharmaceutical company’s stock worth $495,718,000 after buying an additional 11,078,514 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 14.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 83,901,181 shares of the biopharmaceutical company’s stock valued at $3,408,836,000 after buying an additional 10,560,702 shares during the period. 68.05% of the stock is currently owned by institutional investors.

Pfizer Trading Down 0.2 %

Pfizer stock opened at $34.07 on Monday. The company has a current ratio of 2.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62. The firm has a market cap of $192.36 billion, a PE ratio of 9.06, a P/E/G ratio of 1.14 and a beta of 0.59. The stock’s 50 day simple moving average is $35.80 and its two-hundred day simple moving average is $37.96. Pfizer Inc. has a 12 month low of $33.54 and a 12 month high of $54.93.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Pfizer had a net margin of 27.55% and a return on equity of 28.36%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same period in the prior year, the firm posted $2.04 earnings per share. The firm’s quarterly revenue was down 54.1% compared to the same quarter last year. Analysts anticipate that Pfizer Inc. will post 3.33 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, July 28th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.64 dividend on an annualized basis and a yield of 4.81%. Pfizer’s dividend payout ratio is currently 43.62%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com began coverage on shares of Pfizer in a research note on Thursday, August 17th. They issued a “hold” rating for the company. BMO Capital Markets dropped their price objective on shares of Pfizer from $45.00 to $44.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 price objective on shares of Pfizer in a research note on Tuesday, September 5th. HSBC started coverage on Pfizer in a research report on Friday, July 14th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Credit Suisse Group lowered Pfizer from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $47.00 to $40.00 in a research report on Thursday, June 29th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.35.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.