Cary Street Partners Financial LLC Buys New Shares in Pfizer Inc. (NYSE:PFE)

Cary Street Partners Financial LLC bought a new stake in Pfizer Inc. (NYSE:PFE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 129,145 shares of the biopharmaceutical company's stock, valued at approximately $3,426,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Pfizer by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock valued at $13,756,738,000 after acquiring an additional 2,285,276 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pfizer by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock valued at $4,124,330,000 after buying an additional 25,315,159 shares during the period. Geode Capital Management LLC increased its holdings in shares of Pfizer by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock valued at $3,190,131,000 after purchasing an additional 2,923,537 shares in the last quarter. Norges Bank purchased a new stake in shares of Pfizer during the 4th quarter worth about $2,328,986,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Pfizer by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after acquiring an additional 5,350,381 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

Pfizer stock traded down $0.10 during mid-day trading on Wednesday, hitting $22.78. The company's stock had a trading volume of 48,160,808 shares, compared to its average volume of 40,426,421. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The stock has a market capitalization of $129.18 billion, a P/E ratio of 16.15, a P/E/G ratio of 0.64 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock's fifty day moving average price is $24.15 and its two-hundred day moving average price is $25.65.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The business's revenue for the quarter was down 7.8% on a year-over-year basis. Research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be given a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.55%. Pfizer's dividend payout ratio is 124.64%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target on the stock. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Guggenheim restated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Finally, UBS Group upped their price target on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

Insider Buying and Selling

In other news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares of the company's stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by company insiders.

About Pfizer

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.