AIA Group Ltd Acquires 56,334 Shares of Pfizer Inc. (NYSE:PFE)

Key Points

• AIA Group Ltd increased its stake in Pfizer Inc. by 29.3% during the first quarter, owning 248,338 shares valued at $6,293,000.
• Pfizer reported a quarterly earnings per share of $0.78, exceeding analysts' expectations, and had revenue of $14.65 billion, a 10.3% increase year-over-year.
• The biopharmaceutical company declared a quarterly dividend of $0.43 per share, resulting in an annualized dividend yield of 7.0%.

AIA Group Ltd raised its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 29.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,338 shares of the biopharmaceutical company's stock after acquiring an additional 56,334 shares during the quarter. AIA Group Ltd's holdings in Pfizer were worth $6,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pacer Advisors Inc. raised its holdings in Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after buying an additional 17,957,928 shares during the period. Nuveen LLC acquired a new stake in Pfizer during the 1st quarter worth about $389,861,000. Starboard Value LP acquired a new stake in Pfizer during the 4th quarter worth about $407,730,000. Goldman Sachs Group Inc. raised its holdings in Pfizer by 51.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company's stock worth $670,407,000 after buying an additional 9,041,990 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Pfizer by 307.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock worth $254,574,000 after buying an additional 7,581,030 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on PFE. The Goldman Sachs Group boosted their price objective on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Redburn Atlantic cut their price objective on Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. UBS Group boosted their price objective on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. HSBC cut their price objective on Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, TD Cowen dropped their target price on Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $28.12.

Pfizer Stock Down 0.0%

NYSE:PFE traded down $0.01 during mid-day trading on Thursday, reaching $25.16. The stock had a trading volume of 22,707,266 shares, compared to its average volume of 45,685,902. The business's 50 day moving average is $24.52 and its 200 day moving average is $24.47. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $30.43. The stock has a market cap of $143.02 billion, a P/E ratio of 13.38, a PEG ratio of 0.88 and a beta of 0.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The firm's revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.8%. Pfizer's dividend payout ratio is presently 91.49%.

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.