Advisor Resource Council Invests $1.55 Million in Pfizer Inc. (NYSE:PFE)

Advisor Resource Council acquired a new position in Pfizer Inc. (NYSE:PFE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 65,388 shares of the biopharmaceutical company's stock, valued at approximately $1,554,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. DMKC Advisory Services LLC lifted its stake in shares of Pfizer by 4.4% in the first quarter. DMKC Advisory Services LLC now owns 58,341 shares of the biopharmaceutical company's stock worth $1,478,000 after buying an additional 2,474 shares during the last quarter. Meriwether Wealth & Planning LLC increased its position in Pfizer by 9.4% during the first quarter. Meriwether Wealth & Planning LLC now owns 9,300 shares of the biopharmaceutical company's stock worth $236,000 after acquiring an additional 798 shares during the period. Riverwater Partners LLC increased its position in Pfizer by 8.1% during the first quarter. Riverwater Partners LLC now owns 10,927 shares of the biopharmaceutical company's stock worth $277,000 after acquiring an additional 817 shares during the period. Proathlete Wealth Management LLC increased its position in Pfizer by 7.7% during the first quarter. Proathlete Wealth Management LLC now owns 15,981 shares of the biopharmaceutical company's stock worth $405,000 after acquiring an additional 1,147 shares during the period. Finally, Abundance Wealth Counselors increased its position in Pfizer by 17.9% during the first quarter. Abundance Wealth Counselors now owns 31,200 shares of the biopharmaceutical company's stock worth $791,000 after acquiring an additional 4,737 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Pfizer Stock Up 0.4%

Shares of NYSE:PFE opened at $23.97 on Friday. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. The company's fifty day moving average is $23.26 and its 200-day moving average is $24.90. The company has a market capitalization of $136.27 billion, a PE ratio of 17.37, a P/E/G ratio of 0.87 and a beta of 0.57.

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

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.18%. Pfizer's dividend payout ratio (DPR) is 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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