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

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

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Dimensions Group Ltd. raised its holdings in Pfizer by 7.0% in the 1st quarter. Wealth Dimensions Group Ltd. now owns 29,783 shares of the biopharmaceutical company's stock worth $755,000 after purchasing an additional 1,938 shares during the period. 4WEALTH Advisors Inc. raised its stake in shares of Pfizer by 25.9% in the first quarter. 4WEALTH Advisors Inc. now owns 13,490 shares of the biopharmaceutical company's stock worth $342,000 after buying an additional 2,779 shares during the period. Miller Financial Services LLC lifted its position in shares of Pfizer by 7.0% during the 1st quarter. Miller Financial Services LLC now owns 17,363 shares of the biopharmaceutical company's stock valued at $440,000 after buying an additional 1,133 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Pfizer by 8,490.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,534,319 shares of the biopharmaceutical company's stock valued at $64,220,000 after acquiring an additional 2,504,816 shares during the period. Finally, Wealth Alliance LLC increased its holdings in Pfizer by 15.2% in the 1st quarter. Wealth Alliance LLC now owns 54,590 shares of the biopharmaceutical company's stock worth $1,383,000 after acquiring an additional 7,199 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PFE. Cantor Fitzgerald began coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target for the company. HSBC decreased their price target on Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Bank of America lifted their target price on Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Citigroup increased their price objective on shares of Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, Berenberg Bank lowered their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $28.55.

Pfizer Trading Down 0.3%

Shares of Pfizer stock traded down $0.09 during trading on Thursday, hitting $25.28. The stock had a trading volume of 11,172,679 shares, compared to its average volume of 45,414,883. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The firm's fifty day simple moving average is $24.20 and its 200-day simple moving average is $24.71. The stock has a market cap of $143.70 billion, a PE ratio of 18.32, a PEG ratio of 0.92 and a beta of 0.58.

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

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio is currently 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.