Beam Wealth Advisors Inc. Invests $535,000 in Pfizer Inc. (NYSE:PFE)

Beam Wealth Advisors Inc. purchased a new stake in shares of Pfizer Inc. (NYSE:PFE) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 19,103 shares of the biopharmaceutical company’s stock, valued at approximately $535,000.

Several other institutional investors have also added to or reduced their stakes in PFE. Wellington Management Group LLP raised its position in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares in the last quarter. Norges Bank bought a new position in Pfizer during the fourth quarter valued at $2,129,927,000. Van ECK Associates Corp raised its stake in shares of Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after acquiring an additional 290,760 shares during the period. California State Teachers Retirement System boosted its stake in shares of Pfizer by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 9,250,303 shares of the biopharmaceutical company’s stock worth $256,696,000 after purchasing an additional 83,556 shares during the period. Finally, Thornburg Investment Management Inc. boosted its stake in shares of Pfizer by 12.5% during the 1st quarter. Thornburg Investment Management Inc. now owns 8,891,353 shares of the biopharmaceutical company’s stock worth $246,735,000 after purchasing an additional 988,451 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE PFE opened at $29.40 on Tuesday. The company has a market cap of $166.60 billion, a PE ratio of -489.92, a P/E/G ratio of 1.00 and a beta of 0.68. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm’s 50 day moving average price is $29.08 and its 200-day moving average price is $28.07.

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

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is -2,799.53%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday. Barclays raised 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 report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target 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.