HB Wealth Management LLC Has $6.32 Million Stake in Pfizer Inc. (NYSE:PFE)

Key Points

• HB Wealth Management LLC increased its stake in Pfizer Inc. by 25.7%, owning 249,328 shares after acquiring an additional 50,968 shares during the first quarter, valued at approximately $6.3 million.
• Pfizer reported an earnings per share (EPS) of $0.92, exceeding expectations of $0.67, but experienced a 7.8% year-over-year decline in quarterly revenue, amounting to $13.72 billion.
• The company announced a quarterly dividend of $0.43 per share, with a dividend yield of 6.94%, despite a high payout ratio of 124.64%.

HB Wealth Management LLC grew its position in Pfizer Inc. (NYSE:PFE - Free Report) by 25.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 249,328 shares of the biopharmaceutical company's stock after purchasing an additional 50,968 shares during the quarter. HB Wealth Management LLC's holdings in Pfizer were worth $6,318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clarity Asset Management Inc. acquired a new stake in Pfizer during the fourth quarter worth approximately $27,000. Gould Capital LLC grew its position in 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 buying an additional 493 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Pfizer during the 1st quarter worth $28,000. Bernard Wealth Management Corp. acquired a new stake in shares of Pfizer during the 4th quarter worth $30,000. Finally, Horizon Financial Services LLC acquired a new stake in shares of Pfizer during the 1st quarter worth $35,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PFE shares. Berenberg Bank reduced their price objective on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Leerink Partners reduced their price target on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. UBS Group raised their target price on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Jefferies Financial Group raised their target price on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group raised their price objective on Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of "Hold" and a consensus target price of $28.55.

Pfizer Trading Down 0.6%

PFE traded down $0.16 during midday trading on Wednesday, hitting $24.15. 10,807,126 shares of the company were exchanged, compared to its average volume of 45,055,121. The firm has a market capitalization of $137.27 billion, a P/E ratio of 17.50, a P/E/G ratio of 0.88 and a beta of 0.58. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $31.32. The firm's 50 day moving average price is $24.34 and its 200-day moving average price is $24.63. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts' consensus estimates 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 20.33% and a net margin of 12.62%. The firm's quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. As a group, equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be given a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.12%. Pfizer's dividend payout ratio (DPR) is currently 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.