Miracle Mile Advisors LLC Has $5.91 Million Position in Pfizer Inc. (NYSE:PFE)

Miracle Mile Advisors LLC increased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 233,234 shares of the biopharmaceutical company's stock after buying an additional 13,534 shares during the period. Miracle Mile Advisors LLC's holdings in Pfizer were worth $5,910,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. RDA Financial Network boosted its position in Pfizer by 5.5% during the first quarter. RDA Financial Network now owns 68,585 shares of the biopharmaceutical company's stock worth $1,738,000 after purchasing an additional 3,591 shares during the period. Sivia Capital Partners LLC boosted its position in Pfizer by 41.3% during the first quarter. Sivia Capital Partners LLC now owns 14,624 shares of the biopharmaceutical company's stock worth $371,000 after purchasing an additional 4,271 shares during the period. Persium Advisors LLC bought a new stake in Pfizer during the first quarter worth approximately $495,000. Impact Capital Partners LLC boosted its position in Pfizer by 26.5% during the first quarter. Impact Capital Partners LLC now owns 13,686 shares of the biopharmaceutical company's stock worth $347,000 after purchasing an additional 2,864 shares during the period. Finally, Pitti Group Wealth Management LLC boosted its position in Pfizer by 7.5% during the first quarter. Pitti Group Wealth Management LLC now owns 15,186 shares of the biopharmaceutical company's stock worth $385,000 after purchasing an additional 1,060 shares during the period. 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. Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. The Goldman Sachs Group restated a "neutral" rating and issued a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Cantor Fitzgerald started coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective on the stock. UBS Group raised their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.17.

Pfizer Stock Up 1.0%

Shares of PFE stock opened at $23.36 on Monday. The stock has a market cap of $132.81 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The stock has a fifty day moving average price of $22.95 and a 200 day moving average price of $25.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same period last year, the business earned $0.82 earnings per share. Pfizer's quarterly revenue was down 7.8% compared to the same quarter last year. Analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.36%. Pfizer's payout ratio is presently 124.64%.

About Pfizer

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.

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