Edgemoor Investment Advisors Inc. Purchases 194,853 Shares of Pfizer Inc. (NYSE:PFE)

Edgemoor Investment Advisors Inc. grew its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 1,040.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,573 shares of the biopharmaceutical company's stock after buying an additional 194,853 shares during the quarter. Edgemoor Investment Advisors Inc.'s holdings in Pfizer were worth $5,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Clarity Asset Management Inc. acquired a new position in shares of Pfizer during the 4th quarter worth approximately $27,000. Gould Capital LLC increased its position in shares of 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 last quarter. North Capital Inc. acquired a new position in shares of Pfizer during the 1st quarter worth approximately $28,000. Bernard Wealth Management Corp. acquired a new position in shares of Pfizer during the 4th quarter worth approximately $30,000. Finally, Horizon Financial Services LLC acquired a new position in shares of Pfizer during the 1st quarter worth approximately $35,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Cowen lowered their price target on Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. UBS Group upped their price objective on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. BMO Capital Markets dropped their price objective on Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. Redburn Atlantic dropped their price objective on Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Finally, Leerink Partners dropped their price objective on Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $28.55.

Pfizer Price Performance

Pfizer stock traded up $0.87 during trading hours on Tuesday, reaching $25.13. 48,049,307 shares of the stock were exchanged, compared to its average volume of 41,951,172. The company has a market cap of $142.84 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The stock has a 50 day moving average of $24.07 and a two-hundred day moving average of $24.71.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The business's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. Equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.85%. Pfizer's payout ratio is presently 124.64%.

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.