Foundation Resource Management Inc. Increases Holdings in Pfizer Inc. (NYSE:PFE)

Foundation Resource Management Inc. lifted its position in Pfizer Inc. (NYSE:PFE - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 892,125 shares of the biopharmaceutical company's stock after purchasing an additional 323,118 shares during the quarter. Pfizer comprises approximately 3.6% of Foundation Resource Management Inc.'s portfolio, making the stock its 11th largest holding. Foundation Resource Management Inc.'s holdings in Pfizer were worth $22,606,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mcdonald Partners LLC lifted its holdings in shares of Pfizer by 9.9% in the 4th quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company's stock worth $2,926,000 after acquiring an additional 9,963 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in Pfizer in the 4th quarter worth $264,000. Harvey Capital Management Inc. bought a new stake in Pfizer in the fourth quarter worth $544,000. ING Groep NV boosted its position in Pfizer by 48.6% during the fourth quarter. ING Groep NV now owns 1,013,230 shares of the biopharmaceutical company's stock valued at $26,881,000 after buying an additional 331,403 shares during the period. Finally, WCM Investment Management LLC grew its stake in shares of Pfizer by 128.7% during the fourth quarter. WCM Investment Management LLC now owns 115,913 shares of the biopharmaceutical company's stock valued at $3,062,000 after buying an additional 65,238 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Pfizer Stock Up 0.3%

Pfizer stock traded up $0.09 during trading hours on Wednesday, hitting $24.39. 23,123,588 shares of the stock traded hands, compared to its average volume of 46,891,469. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The firm's 50-day moving average price is $22.93 and its two-hundred day moving average price is $24.98. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company has a market cap of $138.64 billion, a PE ratio of 17.29, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm's revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. On average, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be paid a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a dividend yield of 7.05%. Pfizer's payout ratio is 124.64%.

Pfizer Company 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.