Ethic Inc. Has $15.79 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Key Points

• Ethic Inc. increased its stake in Pfizer Inc. by 43.2% in Q1, now owning 643,515 shares valued at approximately $15.79 million.
• Several institutional investors significantly boosted their positions in Pfizer, with Pacer Advisors Inc. raising its stake by 856.8% during the same period.
• Pfizer's stock is currently trading at $25.12, with a market capitalization of $142.79 billion and a quarterly dividend yield of 6.8%.

Ethic Inc. lifted its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 43.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 643,515 shares of the biopharmaceutical company's stock after acquiring an additional 194,041 shares during the period. Ethic Inc.'s holdings in Pfizer were worth $15,792,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PFE. Pacer Advisors Inc. grew its stake in shares of Pfizer by 856.8% in the first quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after acquiring an additional 17,957,928 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Pfizer in the first quarter worth $389,861,000. Starboard Value LP acquired a new stake in shares of Pfizer in the fourth quarter worth $407,730,000. Goldman Sachs Group Inc. grew its stake in shares of Pfizer by 51.9% in the first quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company's stock worth $670,407,000 after acquiring an additional 9,041,990 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Pfizer by 307.5% in the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock worth $254,574,000 after acquiring an additional 7,581,030 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Performance

Pfizer stock opened at $25.12 on Friday. The stock has a 50-day simple moving average of $24.56 and a 200 day simple moving average of $24.46. The company has a quick ratio of 0.85, 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 stock has a market capitalization of $142.79 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 0.90 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The business had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is currently 91.49%.

Analyst Ratings Changes

A number of research firms have weighed in on PFE. BMO Capital Markets decreased their price target on shares of Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. Wolfe Research lifted their price target on shares of Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 30th. Redburn Atlantic decreased their price target on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, TD Cowen decreased their price target on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.12.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.