Cumberland Advisors Inc. acquired a new position in shares of Pfizer Inc. (NYSE:PFE - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 68,823 shares of the biopharmaceutical company's stock, valued at approximately $1,744,000. Pfizer comprises about 0.8% of Cumberland Advisors Inc.'s investment portfolio, making the stock its 28th largest holding.
Other institutional investors have also recently modified their holdings of the company. Clarity Asset Management Inc. purchased a new stake in Pfizer during the 4th quarter worth $27,000. Gould Capital LLC boosted its position in Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 493 shares during the period. North Capital Inc. purchased a new stake in Pfizer during the 1st quarter worth $28,000. Bayforest Capital Ltd purchased a new stake in Pfizer during the 1st quarter worth $28,000. Finally, Bernard Wealth Management Corp. purchased a new stake in Pfizer during the 4th quarter worth $30,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.
Pfizer Trading Up 0.9%
NYSE PFE traded up $0.20 during trading on Friday, reaching $23.49. 51,287,529 shares of the stock traded hands, compared to its average volume of 40,584,816. The firm has a market cap of $133.55 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 0.85 and a beta of 0.52. The stock's 50-day moving average price is $24.36 and its 200 day moving average price is $24.55. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.32.
Pfizer Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.3%. Pfizer's dividend payout ratio is presently 124.64%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on PFE. Citigroup upped their price target on shares of Pfizer from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. BMO Capital Markets decreased their price objective on shares of Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. Wolfe Research upped their price objective 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. TD Cowen decreased their price objective on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, Berenberg Bank decreased their price objective on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.28.
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Pfizer Profile
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Free Report)
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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