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Adell Harriman & Carpenter Inc. Acquires 139,829 Shares of Pfizer Inc. (NYSE:PFE)

Pfizer logo with Medical background

Adell Harriman & Carpenter Inc. grew its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 1,527.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,985 shares of the biopharmaceutical company's stock after purchasing an additional 139,829 shares during the period. Adell Harriman & Carpenter Inc.'s holdings in Pfizer were worth $3,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PFE. Vanguard Group Inc. grew its stake in shares of Pfizer by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock worth $13,756,738,000 after buying an additional 2,285,276 shares during the last quarter. Geode Capital Management LLC grew its position in Pfizer by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock worth $3,190,131,000 after acquiring an additional 2,923,537 shares during the last quarter. Norges Bank bought a new stake in Pfizer during the 4th quarter worth $2,328,986,000. Massachusetts Financial Services Co. MA raised its position in Pfizer by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after purchasing an additional 5,350,381 shares during the last quarter. Finally, Northern Trust Corp raised its position in Pfizer by 7.7% in the fourth quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company's stock valued at $1,548,889,000 after purchasing an additional 4,167,222 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Up 0.5%

Pfizer stock opened at $25.45 on Friday. The company has a market capitalization of $144.66 billion, a PE ratio of 18.44, a PEG ratio of 0.92 and a beta of 0.58. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The firm's fifty day moving average is $23.72 and its 200 day moving average is $24.83. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. The firm had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The business's revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is 124.64%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Redburn Atlantic lowered their price objective on Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Citigroup upped their price target on shares of Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. TD Cowen cut their price target on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Leerink Partners reduced their price objective on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Bank of America raised their target price on Pfizer from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.55.

Get Our Latest Stock Report on PFE

Pfizer Profile

(Free Report)

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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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.

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