Commerce Bank Increases Stock Position in Pfizer Inc. (NYSE:PFE)

Key Points

• Commerce Bank increased its holdings in Pfizer Inc. by 0.8%, now owning 1,645,384 shares valued at approximately $41.69 million.
• Pfizer reported earnings of $0.92 per share for the latest quarter, exceeding analysts' estimates, although revenue declined 7.8% year-over-year.
• The company announced a quarterly dividend of $0.43 per share, yielding 7.4%, but has a high payout ratio of 124.64%.

Commerce Bank lifted its position in Pfizer Inc. (NYSE:PFE - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,645,384 shares of the biopharmaceutical company's stock after buying an additional 13,224 shares during the period. Commerce Bank's holdings in Pfizer were worth $41,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PFE. Pacer Advisors Inc. increased its stake in shares of Pfizer by 856.8% in the first quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after purchasing an additional 17,957,928 shares in the last quarter. Starboard Value LP purchased a new stake in shares of Pfizer in the fourth quarter worth $407,730,000. Assenagon Asset Management S.A. increased its stake in shares of Pfizer by 307.5% in the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock worth $254,574,000 after purchasing an additional 7,581,030 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Pfizer by 1,106.0% in the fourth quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock worth $143,967,000 after purchasing an additional 5,153,257 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Pfizer by 299.5% in the fourth quarter. AQR Capital Management LLC now owns 6,698,797 shares of the biopharmaceutical company's stock worth $177,719,000 after purchasing an additional 5,021,915 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Trading Up 0.9%

Shares of PFE traded up $0.20 during mid-day trading on Friday, reaching $23.49. The stock had a trading volume of 51,287,529 shares, compared to its average volume of 38,018,180. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.32. The business's fifty day moving average is $24.36 and its 200 day moving average is $24.58. The firm has a market cap of $133.55 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 0.84 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The firm had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Pfizer's quarterly revenue was down 7.8% on a year-over-year basis. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business 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 dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 124.64%.

Wall Street Analysts Forecast Growth

PFE has been the subject of several research analyst reports. BMO Capital Markets cut their target price on shares of Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. Redburn Atlantic dropped their price objective on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group lifted their price target on shares of Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Morgan Stanley lifted their price objective on shares of Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Pfizer currently has an average rating of "Moderate Buy" and an average price target of $28.28.

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.