Griffin Asset Management Inc. Buys 26,548 Shares of Pfizer Inc. (NYSE:PFE)

Griffin Asset Management Inc. lifted its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 32.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,666 shares of the biopharmaceutical company's stock after buying an additional 26,548 shares during the quarter. Griffin Asset Management Inc.'s holdings in Pfizer were worth $2,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PFE. Rialto Wealth Management LLC bought a new position in shares of Pfizer in the fourth quarter worth about $26,000. Clarity Asset Management Inc. bought a new stake in Pfizer during the 4th quarter valued at approximately $27,000. Gould Capital LLC raised its stake in 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 purchasing an additional 493 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Pfizer during the 4th quarter valued at approximately $28,000. Finally, Bernard Wealth Management Corp. bought a new stake in Pfizer during the 4th quarter valued at approximately $30,000. Institutional investors own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

PFE has been the subject of several research analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $25.00 price target (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Citigroup restated a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. Cantor Fitzgerald initiated coverage on Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target for the company. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Finally, Guggenheim restated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.17.

Pfizer Stock Down 1.3%

NYSE PFE traded down $0.33 on Friday, reaching $24.51. 46,354,360 shares of the stock traded hands, compared to its average volume of 41,209,115. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a fifty day moving average price of $23.06 and a 200-day moving average price of $24.95. The company has a market cap of $139.35 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. Pfizer's revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 EPS. As a group, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 9th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.02%. The ex-dividend date of this dividend was Friday, May 9th. Pfizer's payout ratio is 124.64%.

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.