Fifth Third Bancorp Acquires 151,007 Shares of Pfizer Inc. (NYSE:PFE)

Fifth Third Bancorp lifted its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,778,113 shares of the biopharmaceutical company's stock after purchasing an additional 151,007 shares during the quarter. Fifth Third Bancorp's holdings in Pfizer were worth $70,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PFE. Rialto Wealth Management LLC purchased a new position in shares of Pfizer during the fourth quarter worth about $26,000. Clarity Asset Management Inc. purchased a new position in shares of Pfizer during the fourth quarter worth about $27,000. Gould Capital LLC grew its holdings in shares of Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 493 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Pfizer during the fourth quarter worth about $28,000. Finally, Bernard Wealth Management Corp. bought a new stake in Pfizer in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price for the company. UBS Group boosted their target price on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, Citigroup reiterated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.17.

Pfizer Stock Down 1.3%

Shares of NYSE PFE traded down $0.33 during trading on Friday, reaching $24.51. The company had a trading volume of 46,354,360 shares, compared to its average volume of 41,209,115. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The stock has a market cap of $139.35 billion, a PE ratio of 17.38, a P/E/G ratio of 0.64 and a beta of 0.57. The business's 50-day moving average is $23.06 and its 200 day moving average is $24.95. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company's quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, equities analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 9th were given a $0.43 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.02%. Pfizer's payout ratio is 124.64%.

Pfizer 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.