Kovitz Investment Group Partners LLC Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in Pfizer Inc. by 129.2%, owning 394,212 shares worth approximately $9.99 million after purchasing an additional 222,218 shares.
• Pfizer reported a quarterly earnings of $0.78 EPS, exceeding estimates, and achieved revenues of $14.65 billion, surpassing analyst expectations of $13.43 billion.
• The company announced a quarterly dividend of $0.43 per share with a yield of 6.8%, reflecting a high dividend payout ratio of 91.49%.

Kovitz Investment Group Partners LLC raised its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 129.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 394,212 shares of the biopharmaceutical company's stock after purchasing an additional 222,218 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Pfizer were worth $9,989,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PFE. Vanguard Group Inc. boosted its stake in shares of Pfizer by 0.9% in the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company's stock worth $13,257,004,000 after buying an additional 4,629,976 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Pfizer by 7.7% in the fourth quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company's stock worth $1,548,889,000 after buying an additional 4,167,222 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Pfizer by 3.5% in the fourth 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 worth $1,045,351,000 after buying an additional 1,333,740 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Pfizer by 2.8% in the first quarter. Invesco Ltd. now owns 30,296,337 shares of the biopharmaceutical company's stock worth $767,709,000 after buying an additional 838,198 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Pfizer by 7.0% in the first quarter. Deutsche Bank AG now owns 28,239,197 shares of the biopharmaceutical company's stock worth $715,581,000 after buying an additional 1,846,436 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Price Performance

NYSE:PFE opened at $25.16 on Friday. 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 cap of $143.05 billion, a PE ratio of 13.38, a P/E/G ratio of 0.89 and a beta of 0.52. The stock has a 50 day moving average price of $24.60 and a 200 day moving average price of $24.45.

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

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 6.8%. Pfizer's dividend payout ratio (DPR) is 91.49%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PFE. The Goldman Sachs Group increased their price target on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Morgan Stanley increased their price target on Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Berenberg Bank lowered their price target on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. UBS Group increased their price target on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Leerink Partners lowered their price target 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Pfizer currently has a consensus rating of "Hold" and a consensus price target of $28.12.

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.