CCM Investment Group LLC Purchases New Position in Pfizer Inc. (NYSE:PFE)

Key Points

• CCM Investment Group LLC has acquired approximately $5.77 million worth of Pfizer Inc. shares, making it the firm's 25th biggest position.
• Analysts have mixed ratings for Pfizer, with an average rating of "Hold" and a consensus target price of $28.12.
• Pfizer recently declared a quarterly dividend of $0.43, representing an annual yield of 7.0%.

CCM Investment Group LLC bought a new stake in Pfizer Inc. (NYSE:PFE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 228,990 shares of the biopharmaceutical company's stock, valued at approximately $5,773,000. Pfizer makes up 0.6% of CCM Investment Group LLC's holdings, making the stock its 25th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in PFE. Bessemer Group Inc. raised its stake in Pfizer by 11.1% during the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock worth $3,358,000 after buying an additional 13,228 shares during the last quarter. Capital Advisors Inc. OK increased its stake in Pfizer by 1.2% in 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 stake in Pfizer in the first quarter valued at $8,283,000. Alta Advisers Ltd increased its stake in Pfizer by 69.6% in the first quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock valued at $809,000 after purchasing an additional 13,100 shares in the last quarter. Finally, WCM Investment Management LLC increased its stake in Pfizer by 8.7% in the first quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock valued at $3,176,000 after purchasing an additional 10,051 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Up 0.2%

Pfizer stock traded up $0.06 during midday trading on Tuesday, hitting $24.64. 34,400,469 shares of the stock were exchanged, compared to its average volume of 45,880,207. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. The stock has a market capitalization of $140.06 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.88 and a beta of 0.52. The business's 50-day moving average price is $24.46 and its 200-day moving average price is $24.47. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65.

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

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is presently 91.49%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PFE. The Goldman Sachs Group lifted their price target on shares of Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Bank of America lifted their price target on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Citigroup lifted their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Berenberg Bank lowered their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Finally, Wolfe Research raised their price target on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $28.12.

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.