Allspring Global Investments Holdings LLC Purchases 330,019 Shares of Pfizer Inc. (NYSE:PFE)

Allspring Global Investments Holdings LLC boosted its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 38.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,182,830 shares of the biopharmaceutical company's stock after buying an additional 330,019 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Pfizer were worth $29,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in shares of Pfizer during the 4th quarter valued at $26,000. Clarity Asset Management Inc. bought a new position in Pfizer during the fourth quarter valued at about $27,000. Gould Capital LLC raised 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 valued at $27,000 after acquiring an additional 493 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Pfizer in the fourth quarter worth $28,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Pfizer during the 4th quarter valued at about $30,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on PFE shares. Cantor Fitzgerald began coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective for the company. Citigroup reissued a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. UBS Group raised their price objective on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. 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 given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Pfizer has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Pfizer Stock Performance

PFE traded up $0.28 during trading hours on Wednesday, hitting $25.32. The stock had a trading volume of 36,581,486 shares, compared to its average volume of 41,499,218. The company's fifty day simple moving average is $23.56 and its 200 day simple moving average is $24.83. The stock has a market cap of $143.95 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 0.88 and a beta of 0.58. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54. 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 earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The firm's revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. Equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 6.79%. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

Pfizer 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.