Donoghue Forlines LLC Buys Shares of 56,592 Pfizer Inc. (NYSE:PFE)

Key Points

• Donoghue Forlines LLC has acquired a new stake of 56,592 shares in Pfizer Inc., valued at approximately $1,434,000, during the first quarter.
• Research analysts have adjusted price targets for Pfizer, with Wolfe Research setting a new target of $23.00 while several others have recommended a “neutral” rating, leading to an average consensus target price of $28.12.
• Pfizer has declared a quarterly dividend of $0.43 per share, reflecting an annualized yield of 7.0% with a payout ratio of 91.49%.

Donoghue Forlines LLC purchased a new stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 56,592 shares of the biopharmaceutical company's stock, valued at approximately $1,434,000.

Other institutional investors have also made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new stake in Pfizer in the 1st quarter worth approximately $6,972,000. Townsquare Capital LLC lifted its holdings in Pfizer by 34.3% in the 1st quarter. Townsquare Capital LLC now owns 549,692 shares of the biopharmaceutical company's stock worth $13,929,000 after purchasing an additional 140,342 shares during the last quarter. Founders Financial Alliance LLC lifted its holdings in Pfizer by 2.8% in the 1st quarter. Founders Financial Alliance LLC now owns 28,180 shares of the biopharmaceutical company's stock worth $714,000 after purchasing an additional 763 shares during the last quarter. Everett Harris & Co. CA lifted its holdings in Pfizer by 5.6% in the 1st quarter. Everett Harris & Co. CA now owns 236,761 shares of the biopharmaceutical company's stock worth $6,000,000 after purchasing an additional 12,508 shares during the last quarter. Finally, Forsta AP Fonden grew its stake in Pfizer by 4.9% in the 1st quarter. Forsta AP Fonden now owns 1,450,800 shares of the biopharmaceutical company's stock valued at $36,763,000 after buying an additional 67,300 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wolfe Research raised their target price on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Wednesday, April 30th. Citigroup raised their target price on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday. Leerink Partners lowered their target price on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Pfizer presently has an average rating of "Hold" and a consensus target price of $28.12.

Pfizer Stock Performance

NYSE PFE opened at $24.57 on Friday. The company has a 50-day simple moving average of $24.44 and a two-hundred day simple moving average of $24.50. The company has a quick ratio of 0.96, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $30.43. The firm has a market cap of $139.69 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 0.87 and a beta of 0.52.

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. The company had revenue of $14.65 billion during the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. Pfizer's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

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 given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is presently 91.49%.

Pfizer Company 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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