DAVENPORT & Co LLC Acquires 52,497 Shares of Pfizer Inc. (NYSE:PFE)

DAVENPORT & Co LLC increased its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 16.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 378,669 shares of the biopharmaceutical company's stock after acquiring an additional 52,497 shares during the quarter. DAVENPORT & Co LLC's holdings in Pfizer were worth $9,594,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PFE. Rialto Wealth Management LLC bought a new stake in Pfizer in the fourth quarter valued at approximately $26,000. Clarity Asset Management Inc. bought a new stake in shares of Pfizer during the fourth quarter valued at about $27,000. Gould Capital LLC increased its stake 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 acquiring an additional 493 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in Pfizer during the fourth quarter worth about $30,000. Finally, Curio Wealth LLC purchased a new position in Pfizer in the 4th quarter worth $32,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Performance

PFE stock traded up $0.13 during midday trading on Thursday, hitting $25.45. 27,104,580 shares of the company traded hands, compared to its average volume of 41,519,718. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The stock has a market capitalization of $144.66 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 0.91 and a beta of 0.58. The business has a 50 day simple moving average of $23.62 and a 200-day simple moving average of $24.83. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share 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 paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is presently 124.64%.

Analyst Ratings Changes

Several research firms recently weighed in on PFE. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. The Goldman Sachs Group lifted 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. Cantor Fitzgerald started coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price for the company. Wolfe Research boosted their price objective on Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets decreased their price target on Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Pfizer currently has a consensus rating of "Hold" and an average price target of $28.55.

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.