Palacios Wealth Management LLC Grows Stock Holdings in Pfizer Inc. (NYSE:PFE)

Key Points

• Palacios Wealth Management LLC significantly increased its holdings in Pfizer, raising its position by 1,096.3% in the first quarter, now owning 256,891 shares valued at approximately $6.51 million.
• Pfizer reported a quarterly net income of $0.78 per share, exceeding analysts' estimates, with revenues of $14.65 billion for the quarter, which is a 10.3% increase year-over-year.
• The company announced a quarterly dividend of $0.43 per share, representing an annualized yield of 7.0%, despite a relatively high payout ratio of 124.64%.

Palacios Wealth Management LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 1,096.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 256,891 shares of the biopharmaceutical company's stock after buying an additional 235,417 shares during the quarter. Pfizer makes up approximately 3.2% of Palacios Wealth Management LLC's portfolio, making the stock its 5th biggest position. Palacios Wealth Management LLC's holdings in Pfizer were worth $6,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PFE. Clarity Asset Management Inc. acquired a new stake in Pfizer during the fourth quarter worth approximately $27,000. Gould Capital LLC lifted its position in shares of Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 493 shares during the period. North Capital Inc. bought a new position in Pfizer during the first quarter worth $28,000. Bayforest Capital Ltd acquired a new stake in Pfizer in the first quarter worth $28,000. Finally, Bernard Wealth Management Corp. bought a new stake in Pfizer in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Performance

Shares of PFE traded up $0.32 during mid-day trading on Thursday, hitting $24.25. The stock had a trading volume of 45,468,611 shares, compared to its average volume of 46,190,364. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.96. The firm has a market cap of $137.85 billion, a P/E ratio of 12.90, a PEG ratio of 0.87 and a beta of 0.52. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $30.43. The business has a fifty day moving average price of $24.42 and a 200-day moving average price of $24.52.

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

Pfizer Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 7.1%. Pfizer's dividend payout ratio is 124.64%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. TD Cowen reduced their target price on Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Redburn Atlantic reduced their price objective on Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. UBS Group boosted their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Berenberg Bank dropped their price target on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Finally, BMO Capital Markets decreased their price objective on Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $28.44.

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.