J. Safra Sarasin Holding AG Buys 61,212 Shares of Pfizer Inc. (NYSE:PFE)

Key Points

• J. Safra Sarasin Holding AG increased its stake in Pfizer by 110.2% in the first quarter, totaling 116,783 shares worth approximately $2.96 million.
• Pfizer recently announced a $0.43 quarterly dividend, which translates to a 7.3% yield, and has a payout ratio of 124.64%.
• Analysts have mixed sentiments on Pfizer; while some upgraded their price targets, the overall consensus is a "Moderate Buy" with a price target of $28.28.

J. Safra Sarasin Holding AG lifted its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 110.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 116,783 shares of the biopharmaceutical company's stock after purchasing an additional 61,212 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Pfizer were worth $2,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Northern Trust Corp raised its stake in Pfizer by 7.7% in the 4th quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company's stock valued at $1,548,889,000 after acquiring an additional 4,167,222 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Pfizer by 3.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,402,619 shares of the biopharmaceutical company's stock valued at $1,045,351,000 after acquiring an additional 1,333,740 shares during the period. Invesco Ltd. raised its stake in Pfizer by 9.6% in the 4th quarter. Invesco Ltd. now owns 29,458,139 shares of the biopharmaceutical company's stock valued at $781,524,000 after acquiring an additional 2,579,455 shares during the period. Pacer Advisors Inc. raised its stake in Pfizer by 856.8% in the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock valued at $508,164,000 after acquiring an additional 17,957,928 shares during the period. Finally, Federated Hermes Inc. raised its stake in Pfizer by 22.2% in the 1st quarter. Federated Hermes Inc. now owns 17,592,709 shares of the biopharmaceutical company's stock valued at $445,799,000 after acquiring an additional 3,201,087 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Trading Up 0.9%

Shares of PFE stock traded up $0.20 during mid-day trading on Friday, reaching $23.49. 51,287,529 shares of the stock traded hands, compared to its average volume of 40,584,816. The stock's fifty day simple moving average is $24.36 and its two-hundred day simple moving average is $24.55. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $31.32. The company has a market cap of $133.55 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 0.85 and a beta of 0.52. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th 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 7.3%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 124.64%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Berenberg Bank lowered their price objective on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. TD Cowen lowered their price objective on Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Redburn Atlantic lowered their price objective on Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Leerink Partners lowered their price objective on Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group increased their target price on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.28.

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.