Cornerstone Select Advisors LLC Buys Shares of 16,275 Pfizer Inc. (NYSE:PFE)

Cornerstone Select Advisors LLC purchased a new position in shares of Pfizer Inc. (NYSE:PFE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 16,275 shares of the biopharmaceutical company's stock, valued at approximately $432,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PFE. Nordea Investment Management AB lifted its holdings in Pfizer by 36.1% in the 4th quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company's stock worth $108,002,000 after purchasing an additional 1,080,822 shares during the last quarter. Oliver Luxxe Assets LLC lifted its stake in shares of Pfizer by 2.2% in the fourth quarter. Oliver Luxxe Assets LLC now owns 18,811 shares of the biopharmaceutical company's stock worth $499,000 after buying an additional 401 shares during the last quarter. Range Financial Group LLC bought a new stake in shares of Pfizer during the 4th quarter worth $353,000. Sterneck Capital Management LLC grew its stake in Pfizer by 76.2% in the 4th quarter. Sterneck Capital Management LLC now owns 32,630 shares of the biopharmaceutical company's stock valued at $866,000 after buying an additional 14,107 shares during the last quarter. Finally, InvesTrust bought a new position in Pfizer in the 4th quarter worth $5,246,000. Institutional investors own 68.36% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PFE. Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a report on Monday, March 10th. The Goldman Sachs Group reiterated a "neutral" rating and set a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. UBS Group raised their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Guggenheim reiterated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares of the company's stock, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by insiders.

Pfizer Price Performance

Shares of Pfizer stock opened at $22.92 on Wednesday. The firm has a market cap of $129.97 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. The firm's 50-day simple moving average is $24.22 and its 200-day simple moving average is $25.67. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

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 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 company had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The company's quarterly revenue was down 7.8% on a year-over-year basis. As a group, research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.51%. Pfizer's payout ratio is presently 124.64%.

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.

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