KBC Group NV Purchases 199,736 Shares of Pfizer Inc. (NYSE:PFE)

KBC Group NV boosted its position in Pfizer Inc. (NYSE:PFE - Free Report) by 6.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,501,105 shares of the biopharmaceutical company's stock after buying an additional 199,736 shares during the period. KBC Group NV owned approximately 0.06% of Pfizer worth $88,718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PFE. Norges Bank bought a new stake in Pfizer in the 4th quarter valued at about $2,328,986,000. Charles Schwab Investment Management Inc. increased its position in Pfizer by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock valued at $4,124,330,000 after buying an additional 25,315,159 shares in the last quarter. Starboard Value LP bought a new stake in Pfizer in the 4th quarter valued at about $407,730,000. Raymond James Financial Inc. bought a new stake in Pfizer in the 4th quarter valued at about $274,694,000. Finally, Assenagon Asset Management S.A. increased its position in Pfizer by 307.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock valued at $254,574,000 after buying an additional 7,581,030 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Price Performance

Shares of NYSE PFE opened at $24.20 on Friday. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The stock's 50 day moving average price is $23.46 and its 200-day moving average price is $24.84. The company has a market capitalization of $137.56 billion, a PE ratio of 17.53, a PEG ratio of 0.88 and a beta of 0.57. 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 announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The firm had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company's revenue was down 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.11%. Pfizer's payout ratio is presently 124.64%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PFE. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $25.00 target price (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Finally, Cantor Fitzgerald initiated coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.