Planning Directions Inc. Acquires New Stake in Pfizer Inc. (NYSE:PFE)

Planning Directions Inc. bought a new position in Pfizer Inc. (NYSE:PFE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 96,107 shares of the biopharmaceutical company's stock, valued at approximately $2,435,000. Pfizer accounts for about 1.0% of Planning Directions Inc.'s investment portfolio, making the stock its 23rd largest position.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Pfizer in the 4th quarter worth $2,328,986,000. Starboard Value LP bought a new position in shares of Pfizer in the fourth quarter worth about $407,730,000. Assenagon Asset Management S.A. lifted its position in shares of Pfizer by 307.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock valued at $254,574,000 after buying an additional 7,581,030 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Pfizer by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after acquiring an additional 5,350,381 shares during the period. Finally, APG Asset Management N.V. increased its holdings in Pfizer by 1,106.0% in the 4th quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock worth $143,967,000 after acquiring an additional 5,153,257 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Up 1.5%

NYSE PFE traded up $0.37 during trading hours on Tuesday, hitting $25.61. 51,253,171 shares of the company were exchanged, compared to its average volume of 41,798,107. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average price of $23.76 and a 200 day moving average price of $24.81. The stock has a market cap of $145.60 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58.

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

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.72%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is currently 124.64%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PFE shares. Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target for the company. HSBC decreased their price target on Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Jefferies Financial Group increased their target price on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Finally, TD Cowen reduced their price objective on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.55.

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.