34,460 Shares in Pfizer Inc. (NYSE:PFE) Acquired by Alpine Bank Wealth Management

Alpine Bank Wealth Management acquired a new stake in Pfizer Inc. (NYSE:PFE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,460 shares of the biopharmaceutical company's stock, valued at approximately $873,000.

Several other institutional investors have also recently modified their holdings of PFE. HBK Sorce Advisory LLC lifted its position in Pfizer by 27.3% during the first quarter. HBK Sorce Advisory LLC now owns 144,064 shares of the biopharmaceutical company's stock valued at $3,651,000 after purchasing an additional 30,931 shares during the period. Golden State Wealth Management LLC grew its stake in Pfizer by 102.6% in the 1st quarter. Golden State Wealth Management LLC now owns 65,496 shares of the biopharmaceutical company's stock valued at $1,660,000 after acquiring an additional 33,176 shares during the period. Bessemer Group Inc. increased its stake in shares of Pfizer by 11.1% during the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock worth $3,358,000 after purchasing an additional 13,228 shares in the last quarter. Corundum Group Inc. increased its stake in Pfizer by 126.4% during the 1st quarter. Corundum Group Inc. now owns 31,241 shares of the biopharmaceutical company's stock worth $792,000 after buying an additional 17,439 shares in the last quarter. Finally, Aurora Private Wealth Inc. acquired a new position in Pfizer in the 1st quarter valued at $986,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Pfizer Trading Down 0.1%

Shares of PFE stock traded down $0.02 during trading hours on Wednesday, hitting $24.29. The company had a trading volume of 25,591,071 shares, compared to its average volume of 41,231,244. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. 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 company's fifty day moving average is $23.33 and its 200 day moving average is $24.87. The stock has a market capitalization of $138.10 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 0.87 and a beta of 0.57.

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

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.08%. Pfizer's dividend payout ratio (DPR) is presently 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.