Pfizer Inc. (NYSE:PFE) Shares Purchased by Manhattan West Asset Management LLC

Key Points

• Manhattan West Asset Management LLC increased its holdings in Pfizer Inc. by 23.0% during the first quarter, acquiring a total of 76,870 shares valued at approximately $1.95 million.
• Pfizer reported earnings per share of $0.78 for the last quarter, exceeding estimates of $0.58, with quarterly revenue reaching $14.65 billion.
• The company recently announced a quarterly dividend of $0.43, which translates to an annual yield of 7.0%, despite having a dividend payout ratio of 91.49%.

Manhattan West Asset Management LLC boosted its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 23.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,870 shares of the biopharmaceutical company's stock after acquiring an additional 14,365 shares during the period. Manhattan West Asset Management LLC's holdings in Pfizer were worth $1,948,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PFE. Vanguard Group Inc. increased its position in shares of Pfizer by 0.9% during the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company's stock worth $13,257,004,000 after acquiring an additional 4,629,976 shares during the period. Northern Trust Corp lifted its holdings in shares of Pfizer by 7.7% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Pfizer by 3.5% during 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 in the last quarter. Deutsche Bank AG lifted its holdings in Pfizer by 7.0% in the 1st 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 in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Pfizer by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company's stock valued at $670,407,000 after purchasing an additional 9,041,990 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PFE shares. Bank of America boosted their price objective on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Wolfe Research raised their target price on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target for the company. Morgan Stanley lifted their price objective on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Jefferies Financial Group lifted their price target on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of "Hold" and an average target price of $28.12.

Pfizer Price Performance

NYSE PFE traded up $0.03 on Tuesday, reaching $24.61. 20,127,956 shares of the company's stock traded hands, compared to its average volume of 45,776,168. The stock has a market cap of $139.89 billion, a PE ratio of 13.08, a P/E/G ratio of 0.88 and a beta of 0.52. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $30.43. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a 50-day simple moving average of $24.46 and a 200 day simple moving average of $24.47.

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

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 7.0%. Pfizer's dividend payout ratio (DPR) is 91.49%.

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.