Edgemoor Investment Advisors Inc. Has $5.41 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

Edgemoor Investment Advisors Inc. boosted its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 1,040.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other hedge funds have also recently bought and sold shares of PFE. Bessemer Group Inc. lifted its stake in shares of Pfizer by 11.1% in the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after buying an additional 13,228 shares during the period. Capital Advisors Inc. OK lifted its stake in shares of 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 buying an additional 17,032 shares during the period. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Pfizer in the first quarter valued at about $8,283,000. Alta Advisers Ltd lifted its stake in shares of 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 buying an additional 13,100 shares during the period. Finally, WCM Investment Management LLC lifted its stake in Pfizer by 8.7% during the first quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock worth $3,176,000 after purchasing an additional 10,051 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PFE shares. The Goldman Sachs Group raised their price target on shares of Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. UBS Group raised their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. TD Cowen cut their target price on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Citigroup lifted their target price on shares of Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, HSBC cut their target price on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.55.

Pfizer Trading Up 0.7%

Shares of PFE stock traded up $0.18 on Wednesday, hitting $25.32. The stock had a trading volume of 41,067,610 shares, compared to its average volume of 41,930,284. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The firm has a market cap of $143.98 billion, a P/E ratio of 18.35, a PEG ratio of 0.88 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. The company has a fifty day moving average price of $24.07 and a two-hundred day moving average price of $24.71.

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

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.79%. Pfizer's payout ratio is 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.