Nuveen LLC Makes New $389.86 Million Investment in Pfizer Inc. (NYSE:PFE)

Key Points

• Nuveen LLC has invested approximately $389.86 million in Pfizer by acquiring 15,385,200 shares, representing a 0.27% ownership stake.
• Pfizer recently reported $0.78 earnings per share for the last quarter, surpassing analysts' estimates of $0.58, and its revenue increased by 10.3% compared to the previous year.
• The company announced a quarterly dividend of $0.43 per share, resulting in an annualized yield of 7.0%, with a payout ratio of 91.49%.

Nuveen LLC bought a new position in shares of Pfizer Inc. (NYSE:PFE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,385,200 shares of the biopharmaceutical company's stock, valued at approximately $389,861,000. Nuveen LLC owned 0.27% of Pfizer as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PFE. William B. Walkup & Associates Inc. raised its holdings in shares of Pfizer by 1.2% in the fourth quarter. William B. Walkup & Associates Inc. now owns 39,368 shares of the biopharmaceutical company's stock valued at $1,044,000 after purchasing an additional 454 shares during the last quarter. Members Trust Co raised its holdings in shares of Pfizer by 2.1% in the first quarter. Members Trust Co now owns 23,175 shares of the biopharmaceutical company's stock valued at $587,000 after purchasing an additional 467 shares during the last quarter. Sutton Place Investors LLC raised its holdings in shares of Pfizer by 5.6% in the first quarter. Sutton Place Investors LLC now owns 8,833 shares of the biopharmaceutical company's stock valued at $224,000 after purchasing an additional 472 shares during the last quarter. Bellevue Group AG raised its holdings in shares of Pfizer by 0.3% in the fourth quarter. Bellevue Group AG now owns 141,560 shares of the biopharmaceutical company's stock valued at $3,756,000 after purchasing an additional 485 shares during the last quarter. Finally, Gould Capital LLC boosted its holdings in shares of Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 493 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Up 1.4%

Shares of NYSE PFE opened at $24.57 on Monday. 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 current ratio of 1.16 and a quick ratio of 0.85. The business's fifty day moving average price is $24.44 and its 200-day moving average price is $24.48. The stock has a market capitalization of $139.69 billion, a PE ratio of 13.07, a P/E/G ratio of 0.88 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. On average, equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.0%. Pfizer's dividend payout ratio is currently 91.49%.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent analyst reports. UBS Group increased their price objective on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Citigroup increased their price objective on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Leerink Partners cut their price objective on Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Cantor Fitzgerald initiated coverage on Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective for the company. Finally, Bank of America increased their price objective on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Pfizer presently has an average rating of "Hold" and an average target price of $28.12.

Pfizer 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.

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