Palouse Capital Management Inc. Acquires 10,816 Shares of Pfizer Inc. (NYSE:PFE)

Palouse Capital Management Inc. grew its position in Pfizer Inc. (NYSE:PFE - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,768 shares of the biopharmaceutical company's stock after buying an additional 10,816 shares during the quarter. Pfizer makes up approximately 2.6% of Palouse Capital Management Inc.'s portfolio, making the stock its 12th largest position. Palouse Capital Management Inc.'s holdings in Pfizer were worth $3,744,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in shares of Pfizer during the 4th quarter valued at $26,000. Clarity Asset Management Inc. acquired a new stake in shares of Pfizer in the fourth quarter valued at about $27,000. Gould Capital LLC increased its position in Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 493 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Pfizer during the fourth quarter worth approximately $28,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Pfizer in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Trading Down 1.6%

Shares of PFE stock traded down $0.40 on Tuesday, reaching $24.00. 39,348,181 shares of the stock were exchanged, compared to its average volume of 41,181,598. The stock has a 50 day moving average price of $23.11 and a 200 day moving average price of $24.93. The stock has a market cap of $136.47 billion, a PE ratio of 17.02, a P/E/G 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 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, beating the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. Equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 9th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.17%. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PFE. Citigroup restated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. UBS Group lifted their price objective on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Guggenheim restated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Finally, Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $29.17.

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.