ABC Arbitrage SA Invests $1.56 Million in Pfizer Inc. (NYSE:PFE)

Key Points

• ABC Arbitrage SA has invested approximately $1.56 million in Pfizer Inc., acquiring 61,425 shares during the 1st quarter.
• Pfizer recently announced a quarterly dividend of $0.43 per share, yielding 7.3% annually, with a payout ratio of 124.64%.
• Several analysts have adjusted their price targets for Pfizer, with the average target now set at $28.28 and a consensus rating of "Moderate Buy."

ABC Arbitrage SA purchased a new position in shares of Pfizer Inc. (NYSE:PFE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 61,425 shares of the biopharmaceutical company's stock, valued at approximately $1,557,000.

A number of other institutional investors have also modified their holdings of PFE. Clarity Asset Management Inc. acquired a new stake in Pfizer in the 4th quarter valued at approximately $27,000. Gould Capital LLC increased its holdings in Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 493 shares in the last quarter. North Capital Inc. acquired a new position in shares of Pfizer in the 1st quarter worth approximately $28,000. Bayforest Capital Ltd bought a new stake in shares of Pfizer in the 1st quarter worth $28,000. Finally, Bernard Wealth Management Corp. bought a new position in Pfizer during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Trading Up 0.3%

Shares of PFE stock opened at $23.56 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The firm has a market capitalization of $133.95 billion, a PE ratio of 17.07, a P/E/G ratio of 0.85 and a beta of 0.52. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $30.43. The business's fifty day moving average price is $24.37 and its 200 day moving average price is $24.53.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is 124.64%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PFE shares. HSBC cut their price objective on Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Citigroup boosted their price objective on Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Jefferies Financial Group upped their price objective on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. BMO Capital Markets lowered their target price on Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Finally, Morgan Stanley raised their price objective on Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.28.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.