Bristlecone Advisors LLC Has $5.11 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Bristlecone Advisors LLC raised its position in Pfizer Inc. (NYSE:PFE - Free Report) by 20.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201,465 shares of the biopharmaceutical company's stock after buying an additional 34,550 shares during the period. Bristlecone Advisors LLC's holdings in Pfizer were worth $5,105,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PFE. Bessemer Group Inc. raised its stake in shares of Pfizer by 11.1% in the 1st quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after purchasing an additional 13,228 shares during the period. Capital Advisors Inc. OK raised its position in Pfizer by 1.2% during the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock valued at $35,817,000 after purchasing an additional 17,032 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Pfizer in the first quarter valued at about $8,283,000. Alta Advisers Ltd grew its position in Pfizer by 69.6% during the 1st quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock worth $809,000 after acquiring an additional 13,100 shares during the last quarter. Finally, WCM Investment Management LLC grew its holdings in shares of Pfizer by 8.7% during the first quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock worth $3,176,000 after purchasing an additional 10,051 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Up 1.3%

PFE stock opened at $24.25 on Friday. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $30.43. The company has a market capitalization of $137.84 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 0.87 and a beta of 0.52. The business's 50 day moving average price is $24.42 and its two-hundred day moving average price is $24.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.16.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The business had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same period last year, the firm earned $0.60 earnings per share. The company's quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid 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 dividend yield of 7.1%. Pfizer's dividend payout ratio is 91.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PFE. TD Cowen dropped their price target on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. BMO Capital Markets cut their price target on Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Citigroup boosted their target price on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday. Morgan Stanley upped 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. Finally, Jefferies Financial Group upped their price target on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $28.12.

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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