Arete Wealth Advisors LLC Buys 15,392 Shares of Pfizer Inc. $PFE

Key Points

• Arete Wealth Advisors LLC increased its stake in Pfizer by 17.7%, now owning 102,164 shares valued at approximately $2.59 million.
• Several hedge funds have significantly increased their holdings in Pfizer, including Pacer Advisors Inc., which boosted its position by 856.8% during the first quarter.
• Wall Street analysts have raised price targets for Pfizer, with estimates ranging from $26.00 to $33.00, and the company has an average rating of "Hold" based on current analyst assessments.

Arete Wealth Advisors LLC increased its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 17.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,164 shares of the biopharmaceutical company's stock after purchasing an additional 15,392 shares during the period. Arete Wealth Advisors LLC's holdings in Pfizer were worth $2,589,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PFE. Pacer Advisors Inc. increased its position in Pfizer by 856.8% in the first quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after purchasing an additional 17,957,928 shares during the period. Amundi lifted its holdings in Pfizer by 43.4% in the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock valued at $1,265,277,000 after buying an additional 15,758,846 shares during the period. Nuveen LLC acquired a new stake in Pfizer during the 1st quarter worth $389,861,000. Starboard Value LP acquired a new stake in Pfizer during the 4th quarter worth $407,730,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Pfizer by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company's stock valued at $670,407,000 after purchasing an additional 9,041,990 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price objective on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Bank of America upped their price target on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley boosted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. HSBC cut their target price on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, Citigroup upped their price objective on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $28.12.

Pfizer Trading Up 1.3%

Pfizer stock opened at $24.86 on Monday. The company has a market cap of $141.31 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 0.88 and a beta of 0.55. The firm has a 50-day moving average of $24.85 and a 200-day moving average of $24.34. 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 Inc. has a one year low of $20.92 and a one year high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.20. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.Pfizer'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. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th were paid a $0.43 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.9%. Pfizer's dividend payout ratio (DPR) is currently 91.49%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.