Pfizer Inc. (NYSE:PFE) Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Pfizer Inc. by 5.1% during the first quarter, owning approximately $275.88 million worth of shares at quarter's end.
• Pfizer's quarterly earnings surpassed expectations with $0.78 earnings per share, compared to the consensus estimate of $0.58, and revenue of $14.65 billion, exceeding the expected $13.43 billion.
• Currently, 68.36% of Pfizer's stock is held by institutional investors and hedge funds, and the stock has an average rating of "Hold" with a target price of $28.12.

Raymond James Financial Inc. increased its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 5.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,887,277 shares of the biopharmaceutical company's stock after acquiring an additional 533,173 shares during the quarter. Raymond James Financial Inc. owned approximately 0.19% of Pfizer worth $275,884,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Clarity Asset Management Inc. purchased a new position in shares of Pfizer during the fourth quarter valued at $27,000. Gould Capital LLC grew its holdings in shares of Pfizer by 97.2% during the fourth 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 in the last quarter. GKV Capital Management Co. Inc. purchased a new position in shares of Pfizer during the first quarter valued at $27,000. Bayforest Capital Ltd purchased a new position in shares of Pfizer during the first quarter valued at $28,000. Finally, North Capital Inc. purchased a new position in shares of Pfizer during the first quarter valued at $28,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Bank of America lifted their price target on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Citigroup lifted their price target on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. HSBC lowered their price target on Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, May 19th. 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 report on Wednesday, April 30th. Finally, Cantor Fitzgerald initiated coverage on Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $28.12.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.16 on Friday. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $30.43. The business has a 50-day moving average of $24.60 and a two-hundred day moving average of $24.44. The stock has a market capitalization of $143.05 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly 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. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The company had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be paid 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 6.8%. Pfizer's dividend payout ratio is presently 91.49%.

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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