Avantax Advisory Services Inc. Purchases 20,421 Shares of Pfizer Inc. (NYSE:PFE)

Key Points

• Avantax Advisory Services Inc. expanded its stake in Pfizer Inc. by acquiring an additional 20,421 shares, increasing its ownership to a total of 369,411 shares valued at approximately $9.36 million.
• Several equity research analysts have recently adjusted their price targets for Pfizer, with a consensus target price now at $28.55 and a general rating of "Hold" from most analysts.
• Pfizer declared a quarterly dividend of $0.43 per share, with an annualized dividend of $1.72 and a yield of 6.94%.

Avantax Advisory Services Inc. grew its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 369,411 shares of the biopharmaceutical company's stock after acquiring an additional 20,421 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Pfizer were worth $9,361,000 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. Clarity Asset Management Inc. bought a new position in Pfizer during the 4th quarter worth $27,000. Gould Capital LLC increased its stake in shares of 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. North Capital Inc. bought a new stake in Pfizer in the first quarter valued at $28,000. Bernard Wealth Management Corp. acquired a new position in Pfizer during the 4th quarter worth approximately $30,000. Finally, Horizon Financial Services LLC acquired a new position in shares of Pfizer during the first quarter worth approximately $35,000. Institutional investors own 68.36% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Berenberg Bank decreased their price target on Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. TD Cowen decreased their price objective on Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Redburn Atlantic reduced their target price on Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. UBS Group increased their price objective on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald assumed coverage on Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $28.55.

Pfizer Stock Performance

Shares of PFE stock opened at $24.79 on Friday. 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 1 year low of $20.92 and a 1 year high of $31.54. The firm has a market capitalization of $140.91 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58. The business has a fifty day moving average of $24.30 and a 200 day moving average of $24.66.

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

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is 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.

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