Beacon Harbor Wealth Advisors Inc. Acquires 166,788 Shares of Pfizer Inc. (NYSE:PFE)

Key Points

• Beacon Harbor Wealth Advisors Inc. significantly increased its stake in Pfizer Inc. by 176.6%, acquiring an additional 166,788 shares for a total of 261,253 shares valued at $6.62 million.
• Pfizer's net margin for the last quarter was 16.84% with a reported revenue of $14.65 billion, exceeding analysts' expectations by approximately $1.22 billion.
• The company announced a quarterly dividend of $0.43 per share, representing a 7.2% dividend yield, with a notably high payout ratio of 124.64%.

Beacon Harbor Wealth Advisors Inc. boosted its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 176.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,253 shares of the biopharmaceutical company's stock after purchasing an additional 166,788 shares during the period. Beacon Harbor Wealth Advisors Inc.'s holdings in Pfizer were worth $6,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in shares of Pfizer by 1,282.4% during the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock worth $17,677,000 after buying an additional 618,117 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Pfizer by 12.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock worth $498,000 after buying an additional 2,087 shares during the last quarter. FIL Ltd lifted its stake in shares of Pfizer by 28.7% during the 4th quarter. FIL Ltd now owns 6,788,512 shares of the biopharmaceutical company's stock worth $180,099,000 after buying an additional 1,512,801 shares during the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of Pfizer during the 4th quarter worth about $33,000. Finally, Advisory Services Network LLC lifted its stake in shares of Pfizer by 3.5% during the 4th quarter. Advisory Services Network LLC now owns 339,805 shares of the biopharmaceutical company's stock worth $9,015,000 after buying an additional 11,502 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Price Performance

PFE stock opened at $23.95 on Thursday. The company has a 50 day simple moving average of $24.40 and a 200 day simple moving average of $24.53. The stock has a market cap of $136.15 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.90 and a beta of 0.52. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43. 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 (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.33%. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same period in the previous year, the firm posted $0.60 EPS. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is presently 124.64%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PFE. Morgan Stanley lifted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday. HSBC dropped their price objective on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. UBS Group lifted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Bank of America lifted their price objective on shares of Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, TD Cowen decreased their target price on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.44.

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.

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