Empower Advisory Group LLC Purchases 566,442 Shares of Pfizer Inc. (NYSE:PFE)

Empower Advisory Group LLC boosted its position in Pfizer Inc. (NYSE:PFE - Free Report) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,419,125 shares of the biopharmaceutical company's stock after acquiring an additional 566,442 shares during the quarter. Empower Advisory Group LLC owned 0.08% of Pfizer worth $111,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PFE. Brighton Jones LLC increased its stake in Pfizer by 1,282.4% in the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock valued at $17,677,000 after acquiring an additional 618,117 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Pfizer by 12.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock valued at $498,000 after acquiring an additional 2,087 shares during the last quarter. Round Hill Asset Management increased its stake in Pfizer by 8.2% in the fourth quarter. Round Hill Asset Management now owns 152,162 shares of the biopharmaceutical company's stock valued at $4,037,000 after acquiring an additional 11,514 shares during the last quarter. Wellspring Financial Advisors LLC increased its stake in Pfizer by 49.9% in the fourth quarter. Wellspring Financial Advisors LLC now owns 16,693 shares of the biopharmaceutical company's stock valued at $443,000 after acquiring an additional 5,560 shares during the last quarter. Finally, Certior Financial Group LLC purchased a new stake in Pfizer during the fourth quarter valued at about $421,000. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

Shares of PFE opened at $23.56 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. Pfizer Inc. has a one year low of $20.92 and a one year high of $30.43. The company has a 50-day simple moving average of $24.37 and a two-hundred day simple moving average of $24.53. The firm has a market capitalization of $133.95 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 0.85 and a beta of 0.52.

Pfizer Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 7.3%. Pfizer's dividend payout ratio (DPR) is 124.64%.

Analysts Set New Price Targets

Several research firms have issued reports on PFE. Bank of America upped their price target on shares of Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Morgan Stanley upped their price target on shares of Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Wolfe Research upped their price target on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group upped their price target on shares of Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, BMO Capital Markets cut their price target on shares of Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Pfizer currently has an average rating of "Moderate Buy" and a consensus price target of $28.28.

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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