Fred Alger Management LLC Raises Holdings in Pfizer Inc. $PFE

Fred Alger Management LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,179 shares of the biopharmaceutical company's stock after acquiring an additional 14,768 shares during the quarter. Fred Alger Management LLC's holdings in Pfizer were worth $3,324,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. increased its holdings in shares of Pfizer by 1.2% during the 4th quarter. William B. Walkup & Associates Inc. now owns 39,368 shares of the biopharmaceutical company's stock valued at $1,044,000 after purchasing an additional 454 shares in the last quarter. Members Trust Co grew its position in Pfizer by 2.1% during the first quarter. Members Trust Co now owns 23,175 shares of the biopharmaceutical company's stock valued at $587,000 after buying an additional 467 shares during the period. Sutton Place Investors LLC increased its holdings in Pfizer by 5.6% in the first quarter. Sutton Place Investors LLC now owns 8,833 shares of the biopharmaceutical company's stock valued at $224,000 after buying an additional 472 shares in the last quarter. MSH Capital Advisors LLC raised its position in shares of Pfizer by 1.4% in the first quarter. MSH Capital Advisors LLC now owns 34,585 shares of the biopharmaceutical company's stock worth $876,000 after acquiring an additional 485 shares during the period. Finally, Trust Asset Management LLC boosted its stake in shares of Pfizer by 0.8% during the 1st quarter. Trust Asset Management LLC now owns 65,183 shares of the biopharmaceutical company's stock worth $1,652,000 after acquiring an additional 490 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Up 0.8%

Shares of PFE opened at $24.74 on Wednesday. The stock has a 50 day moving average price of $24.85 and a 200 day moving average price of $24.33. Pfizer Inc. has a one year low of $20.92 and a one year high of $30.43. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $140.66 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.87 and a beta of 0.55.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company had revenue of $14.65 billion for the quarter, compared to analysts' expectations of $13.43 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, July 25th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Friday, July 25th. Pfizer's dividend payout ratio is currently 91.49%.

Wall Street Analysts Forecast Growth

PFE has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Jefferies Financial Group boosted their price objective on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Bank of America increased their target price on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. HSBC dropped their price target on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Finally, Citigroup upped their price objective on shares of Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pfizer currently has an average rating of "Hold" and an average target price of $28.12.

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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