Wealthspire Advisors LLC Raises Holdings in Pfizer Inc. (NYSE:PFE)

Key Points

• Wealthspire Advisors LLC boosted its stake in Pfizer Inc. by 82.6% during the first quarter, with holdings worth approximately $5.8 million.
• Recent reports from brokerages show that Pfizer's price targets have been downgraded, with the average target now at $28.28 and most analysts rating it as a Moderate Buy.
• Pfizer declared a quarterly dividend of $0.43 per share, reflecting an annual yield of 7.0%, despite a high dividend payout ratio of 124.64%.

Wealthspire Advisors LLC boosted its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 82.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 229,664 shares of the biopharmaceutical company's stock after purchasing an additional 103,902 shares during the quarter. Wealthspire Advisors LLC's holdings in Pfizer were worth $5,820,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Clarity Asset Management Inc. acquired a new stake in Pfizer in the fourth quarter valued at $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 last quarter. Bayforest Capital Ltd purchased a new position in shares of Pfizer in the first quarter worth approximately $28,000. North Capital Inc. acquired a new stake in shares of Pfizer during the first quarter worth approximately $28,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Pfizer during the fourth quarter worth $30,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Trading Up 1.3%

NYSE PFE traded up $0.32 during mid-day trading on Thursday, reaching $24.25. 45,468,611 shares of the stock were exchanged, compared to its average volume of 46,190,364. The stock has a 50 day simple moving average of $24.42 and a 200-day simple moving average of $24.52. Pfizer Inc. has a one year low of $20.92 and a one year high of $30.43. The stock has a market cap of $137.85 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.87 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 0.96.

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

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be issued a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 7.1%. Pfizer's payout ratio is currently 124.64%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PFE. Bank of America raised their price objective on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday. Redburn Atlantic cut their price target on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. TD Cowen reduced their price objective on Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Berenberg Bank reduced their price objective on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Finally, Wolfe Research upped their target price on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.