Alta Advisers Ltd increased its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 69.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 31,912 shares of the biopharmaceutical company's stock after purchasing an additional 13,100 shares during the period. Alta Advisers Ltd's holdings in Pfizer were worth $809,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in PFE. Hixon Zuercher LLC grew its position in Pfizer by 22.3% in the 1st quarter. Hixon Zuercher LLC now owns 80,783 shares of the biopharmaceutical company's stock worth $2,047,000 after purchasing an additional 14,753 shares during the last quarter. Benchmark Financial Wealth Advisors LLC grew its position in Pfizer by 19.9% during the first quarter. Benchmark Financial Wealth Advisors LLC now owns 18,795 shares of the biopharmaceutical company's stock worth $476,000 after buying an additional 3,113 shares in the last quarter. Deseret Mutual Benefit Administrators grew its position in Pfizer by 8.2% during the first quarter. Deseret Mutual Benefit Administrators now owns 41,910 shares of the biopharmaceutical company's stock worth $1,062,000 after buying an additional 3,164 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Pfizer during the first quarter valued at about $142,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Pfizer in the 1st quarter valued at approximately $8,283,000. Institutional investors own 68.36% of the company's stock.
Analyst Upgrades and Downgrades
PFE has been the topic of several recent research reports. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Jefferies Financial Group lifted their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Leerink Partners lowered their price target on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group raised their price objective on shares of Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Finally, Citigroup upped their target price on shares of Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned 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 currently has a consensus rating of "Hold" and a consensus price target of $28.55.
Read Our Latest Analysis on PFE
Pfizer Price Performance
Shares of PFE stock traded up $0.13 during trading hours on Friday, hitting $25.45. 27,104,580 shares of the company's stock were exchanged, compared to its average volume of 41,625,077. The stock's 50-day moving average is $23.72 and its 200-day moving average is $24.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The stock has a market cap of $144.66 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58.
Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data 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. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The firm had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same quarter last year, the company posted $0.82 EPS. The company's quarterly revenue was down 7.8% compared to the same quarter last year. As a group, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.
Pfizer Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a $0.43 dividend. 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 6.76%. Pfizer's payout ratio is 124.64%.
About Pfizer
(
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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