Exchange Traded Concepts LLC Grows Stock Position in Pfizer Inc. (NYSE:PFE)

Exchange Traded Concepts LLC grew its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 677.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 592,832 shares of the biopharmaceutical company's stock after acquiring an additional 516,582 shares during the period. Exchange Traded Concepts LLC's holdings in Pfizer were worth $15,022,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Lipe & Dalton raised its holdings in Pfizer by 17.7% during the 4th quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company's stock valued at $71,000 after buying an additional 400 shares during the period. Beam Wealth Advisors Inc. boosted its stake in Pfizer by 1.5% in the 4th quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company's stock worth $728,000 after purchasing an additional 401 shares in the last quarter. Providence Capital Advisors LLC raised its stake in shares of Pfizer by 0.4% in the fourth quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company's stock worth $3,034,000 after purchasing an additional 409 shares during the last quarter. Donaldson Capital Management LLC grew its holdings in Pfizer by 1.2% during the fourth quarter. Donaldson Capital Management LLC now owns 35,694 shares of the biopharmaceutical company's stock worth $947,000 after acquiring an additional 410 shares during the period. Finally, Noesis Capital Mangement Corp raised its holdings in Pfizer by 2.6% in the 4th quarter. Noesis Capital Mangement Corp now owns 16,357 shares of the biopharmaceutical company's stock worth $434,000 after purchasing an additional 413 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Guggenheim reissued a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a report on Monday, March 10th. UBS Group raised their target price on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, 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 on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.21 during trading on Monday, reaching $24.34. 12,782,505 shares of the stock traded hands, compared to its average volume of 41,101,268. The company has a 50-day moving average of $23.06 and a 200-day moving average of $24.95. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The stock has a market capitalization of $138.35 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% 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 prior year, the company posted $0.82 EPS. Pfizer's quarterly revenue was down 7.8% compared to the same quarter last year. Analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were given a $0.43 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.07%. Pfizer's dividend payout ratio is currently 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.