TD Asset Management Inc Boosts Holdings in Pfizer Inc. (NYSE:PFE)

Key Points

• TD Asset Management Inc has increased its stake in Pfizer Inc. by 11.6% during the first quarter, holding over 3 million shares valued at approximately $77.9 million.
• Pfizer recently reported earnings per share of $0.92, surpassing analysts' expectations, despite a year-over-year revenue decline of 7.8% to $13.72 billion.
• The biopharmaceutical company announced a quarterly dividend of $0.43, representing an annualized yield of 6.94% as its payout ratio stands at 124.64%.

TD Asset Management Inc grew its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,075,555 shares of the biopharmaceutical company's stock after purchasing an additional 318,629 shares during the period. TD Asset Management Inc owned approximately 0.05% of Pfizer worth $77,935,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in shares of Pfizer by 11.1% during the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after purchasing an additional 13,228 shares during the period. Capital Advisors Inc. OK raised its holdings in shares of Pfizer by 1.2% during the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock valued at $35,817,000 after purchasing an additional 17,032 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Pfizer during the first quarter valued at about $8,283,000. Alta Advisers Ltd raised its holdings in shares of Pfizer by 69.6% during the first quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock valued at $809,000 after purchasing an additional 13,100 shares during the period. Finally, WCM Investment Management LLC raised its holdings in shares of Pfizer by 8.7% during the first quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock valued at $3,176,000 after purchasing an additional 10,051 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Performance

Shares of PFE stock traded up $0.03 during trading on Thursday, reaching $23.84. 23,597,035 shares of the company's stock traded hands, compared to its average volume of 45,072,992. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.32. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $135.51 billion, a P/E ratio of 17.25, a PEG ratio of 0.88 and a beta of 0.58. The firm's 50-day moving average is $24.35 and its 200 day moving average is $24.62.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The business had revenue of $13.72 billion for the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the prior year, the company posted $0.82 EPS. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. Equities research analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.22%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is presently 124.64%.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. HSBC decreased their target price on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Berenberg Bank decreased their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Morgan Stanley boosted their target price on shares of Pfizer from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group boosted their target price on shares of Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Citigroup boosted their target price on shares of Pfizer from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $28.55.

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.