Deutsche Bank AG Buys 1,846,436 Shares of Pfizer Inc. (NYSE:PFE)

Key Points

• Deutsche Bank AG increased its ownership of Pfizer Inc. by 7.0%, acquiring an additional 1,846,436 shares in the first quarter, bringing its total to approximately 28 million shares valued at $715.6 million.
• Institutional investors now hold 68.36% of Pfizer's stock, with several firms, including Bessemer Group Inc. and CHURCHILL MANAGEMENT Corp, also boosting their stakes in the company during the same period.
• Pfizer reported a 10.3% increase in quarterly revenue year-over-year, totaling $14.65 billion, along with a quarterly dividend of $0.43 per share, equating to an annual yield of 7.2%.

Deutsche Bank AG increased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,239,197 shares of the biopharmaceutical company's stock after acquiring an additional 1,846,436 shares during the quarter. Deutsche Bank AG owned about 0.50% of Pfizer worth $715,581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in shares of 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 purchasing an additional 13,228 shares in the last quarter. Capital Advisors Inc. OK boosted its stake in Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock worth $35,817,000 after purchasing an additional 17,032 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new stake in Pfizer during the 1st quarter valued at approximately $8,283,000. Alta Advisers Ltd grew its holdings in Pfizer by 69.6% during the 1st quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock valued at $809,000 after buying an additional 13,100 shares in the last quarter. Finally, WCM Investment Management LLC raised its position 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 valued at $3,176,000 after buying an additional 10,051 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PFE. Morgan Stanley upped their target price on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday. BMO Capital Markets dropped their price objective on shares of Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. The Goldman Sachs Group lifted their target price on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Wolfe Research boosted their target price on Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 30th. Finally, TD Cowen cut their price target on Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.44.

Pfizer Stock Performance

NYSE PFE opened at $23.95 on Thursday. The business's 50 day moving average price is $24.40 and its 200-day moving average price is $24.53. 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 cap of $136.15 billion, a P/E ratio of 12.74, a P/E/G ratio of 0.90 and a beta of 0.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS 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 21.33%. The company had revenue of $14.65 billion during the quarter, compared to analyst estimates of $13.43 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. Pfizer's quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.2%. Pfizer's dividend payout ratio (DPR) is presently 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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