Forum Financial Management LP Raises Stock Position in Pfizer Inc. (NYSE:PFE)

Forum Financial Management LP grew its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 56.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,645 shares of the biopharmaceutical company's stock after buying an additional 35,001 shares during the quarter. Forum Financial Management LP's holdings in Pfizer were worth $2,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PFE. Patriot Financial Group Insurance Agency LLC increased its position in Pfizer by 1.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company's stock valued at $1,027,000 after purchasing an additional 391 shares during the period. D Orazio & Associates Inc. raised its holdings in shares of Pfizer by 5.5% in the fourth quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company's stock worth $200,000 after buying an additional 391 shares during the last quarter. Lipe & Dalton grew its stake 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 purchasing an additional 400 shares during the last quarter. Beam Wealth Advisors Inc. raised its position in Pfizer by 1.5% during the 4th quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company's stock worth $728,000 after buying an additional 401 shares during the last quarter. Finally, Providence Capital Advisors LLC lifted its position in Pfizer by 0.4% during the fourth quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company's stock valued at $3,034,000 after purchasing an additional 409 shares during the period. Institutional investors own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PFE. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Guggenheim reissued a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. UBS Group increased their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. One equities research 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 stock. According to data from MarketBeat, Pfizer presently has an average rating of "Moderate Buy" and an average price target of $29.17.

Pfizer Trading Up 1.3%

PFE opened at $23.33 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm has a market cap of $132.66 billion, a P/E ratio of 16.55, a P/E/G ratio of 0.64 and a beta of 0.58. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The business has a fifty day simple moving average of $23.38 and a 200-day simple moving average of $25.19.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $14.43 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend is Friday, May 9th. 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.

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