Sound Shore Management Inc. CT acquires 279,825 shares of Pfizer Inc. (NYSE:PFE)

Sound Shore Management Inc. CT increased its holdings in Pfizer Inc. (NYSE:PFE – Free Report) by 10.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,836,057 shares of the biopharmaceutical company’s stock after purchasing an additional 279,825 shares during the period. Pfizer accounts for approximately 2.6% of Sound Shore Management Inc.’s holdings. CT, making the stock its 18th largest holding. The holdings of Sound Shore Management Inc. CT’s holdings in Pfizer were worth $79,353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. boosted its holdings in Pfizer by 3.8% in the 4th quarter. Gilbert & Cook Inc. now owns 25,651 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 945 shares during the period. Gryphon Financial Partners LLC boosted its stake in shares of Pfizer by 43.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 26,942 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 8,194 shares during the period. Quest Partners LLC bought a new stake in shares of Pfizer in the fourth quarter valued at approximately $186,000. SageView Advisory Group LLC boosted its stake in shares of Pfizer by 2.2% in the fourth quarter. SageView Advisory Group LLC now owns 45,186 shares of the biopharmaceutical company’s stock worth $1,221,000 after acquiring an additional 973 shares during the period. Finally, TCW Group Inc. grew its position in Pfizer by 82.7% during the 4th quarter. TCW Group Inc. now owns 205,376 shares of the biopharmaceutical company’s stock valued at $5,913,000 after acquiring an additional 92,970 shares during the period. 68.36% of shares are currently owned by institutional investors.

Analysts set new price targets

Several equities analysts have recently issued reports on PFE shares. UBS Group raised their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, September 16th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the company from $28.00 to $34.00 in a report research on Wednesday, August 7. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $34.54, according to data from MarketBeat.

Read our latest analysis of PFE

Pfizer stock fell 0.8%

Shares of PFE stock opened at $29.42 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86, and a quick ratio of 0.60. The company’s fifty-day simple moving average is $29.36, and its 200-day simple moving average is $28.22. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.11. The company has a market cap of $166.71 billion, a P/E ratio of -490.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68.

Pfizer (NYSE:PFE – Get Your Free Report ) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. In the same period last year, the company earned $0.67 per share. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

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

Pfizer Company Profile

(Free Report)

Pfizer Inc discovers, develops, manufactures, markets, distributes and sells biopharmaceutical products in the United States, Europe and internationally. The company offers drugs and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine and women’s health under the brands Eliquis, Nurtec ODT/Vydura, Zavzpret and Premarin; infectious diseases with unmet medical needs under the family brands Prevnar, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac and Trumenba; and the prevention and treatment of COVID-19 and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.

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