Granite Group Advisors LLC Grows Stock Holdings in Pfizer Inc. (NYSE:PFE)

Granite Group Advisors LLC increased its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 37.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,033 shares of the biopharmaceutical company's stock after buying an additional 12,919 shares during the quarter. Pfizer accounts for about 0.8% of Granite Group Advisors LLC's investment portfolio, making the stock its 26th largest position. Granite Group Advisors LLC's holdings in Pfizer were worth $1,192,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clarity Asset Management Inc. purchased a new position in shares of Pfizer in the fourth quarter worth approximately $27,000. Gould Capital LLC lifted its holdings in 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 purchasing an additional 493 shares in the last quarter. North Capital Inc. purchased a new position in Pfizer during the first quarter valued at approximately $28,000. Bernard Wealth Management Corp. purchased a new position in Pfizer during the fourth quarter valued at approximately $30,000. Finally, Horizon Financial Services LLC purchased a new position in Pfizer during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PFE shares. Wolfe Research lifted their price target on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Wednesday, April 30th. TD Cowen lowered their price target on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets lowered their price target on shares of Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Citigroup lifted their price target on shares of Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, HSBC lowered their price target on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Pfizer has a consensus rating of "Hold" and an average target price of $28.55.

Pfizer Trading Down 2.2%

NYSE:PFE traded down $0.57 during mid-day trading on Friday, hitting $24.79. 35,628,980 shares of the stock traded hands, compared to its average volume of 38,205,096. The stock has a market capitalization of $140.91 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 0.92 and a beta of 0.58. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The firm's 50 day moving average is $24.30 and its two-hundred day moving average is $24.68. 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 issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The firm's revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. On average, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 6.94%. Pfizer's payout ratio is 124.64%.

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.