Fifth Third Wealth Advisors LLC Purchases 31,766 Shares of Pfizer Inc. (NYSE:PFE)

Fifth Third Wealth Advisors LLC raised its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,285 shares of the biopharmaceutical company's stock after buying an additional 31,766 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Pfizer were worth $3,048,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Tallon Kerry Patrick purchased a new stake in Pfizer during the 4th quarter valued at $509,000. Brighton Jones LLC boosted its position in Pfizer by 1,282.4% during the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock valued at $17,677,000 after buying an additional 618,117 shares during the period. Revolve Wealth Partners LLC boosted its position in Pfizer by 12.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock valued at $498,000 after buying an additional 2,087 shares during the period. GFS Advisors LLC purchased a new stake in Pfizer during the 4th quarter valued at $12,841,000. Finally, Austin Private Wealth LLC boosted its position in Pfizer by 28.8% during the 4th quarter. Austin Private Wealth LLC now owns 19,144 shares of the biopharmaceutical company's stock valued at $508,000 after buying an additional 4,285 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Down 0.4%

Shares of NYSE:PFE traded down $0.09 during trading on Tuesday, reaching $23.37. 35,148,276 shares of the stock traded hands, compared to its average volume of 41,025,196. The stock has a 50-day moving average of $23.08 and a two-hundred day moving average of $25.04. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a market cap of $132.85 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 0.64 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 net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The firm's quarterly revenue 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 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be given a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.36%. Pfizer's payout ratio is presently 124.64%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PFE shares. UBS Group increased their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Citigroup reissued a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Cantor Fitzgerald began coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target for the company. The Goldman Sachs Group reissued a "neutral" rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Finally, Guggenheim reissued a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $29.17.

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.