Moors & Cabot Inc. Purchases 71,082 Shares of Pfizer Inc. (NYSE:PFE)

Moors & Cabot Inc. grew its holdings in Pfizer Inc. (NYSE:PFE) by 18.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 451,182 shares of the biopharmaceutical company’s stock after acquiring an additional 71,082 shares during the quarter. Pfizer accounts for approximately 0.7% of Moors & Cabot Inc.’s investment portfolio, making the stock its 27th biggest position. Moors & Cabot Inc.’s holdings in Pfizer were worth $12,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Excalibur Management Corp grew its position in shares of Pfizer by 1.9% during the 2nd quarter. Excalibur Management Corp now owns 164,336 shares of the biopharmaceutical company’s stock worth $4,598,000 after purchasing an additional 3,090 shares in the last quarter. Lmcg Investments LLC increased its stake in Pfizer by 1.1% during the 2nd quarter. Lmcg Investments LLC now owns 51,777 shares of the biopharmaceutical company’s stock worth $1,449,000 after acquiring an additional 543 shares during the period. Wulff Hansen & CO. raised its holdings in Pfizer by 2,698.0% in the 2nd quarter. Wulff Hansen & CO. now owns 269,000 shares of the biopharmaceutical company’s stock valued at $7,527,000 after acquiring an additional 259,386 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Pfizer by 18.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,700,173 shares of the biopharmaceutical company’s stock valued at $131,511,000 after acquiring an additional 735,536 shares during the period. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of Pfizer by 63.5% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 200,310 shares of the biopharmaceutical company’s stock worth $5,605,000 after purchasing an additional 77,780 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several 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 upped their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. UBS Group increased their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Barclays upped their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Up 2.7 %

Shares of NYSE PFE opened at $30.07 on Tuesday. The company has a 50 day simple moving average of $29.26 and a 200 day simple moving average of $28.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.12. The firm has a market cap of $170.40 billion, a PE ratio of -501.08, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68.

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

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were given 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 dividend yield of 5.59%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

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.