Planning Directions Inc. Invests $2.44 Million in Pfizer Inc. (NYSE:PFE)

Planning Directions Inc. purchased a new position in Pfizer Inc. (NYSE:PFE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 96,107 shares of the biopharmaceutical company's stock, valued at approximately $2,435,000. Pfizer comprises about 1.0% of Planning Directions Inc.'s holdings, making the stock its 23rd largest holding.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Pfizer by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock valued at $13,756,738,000 after buying an additional 2,285,276 shares during the period. Geode Capital Management LLC lifted its position in shares of Pfizer by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock worth $3,190,131,000 after purchasing an additional 2,923,537 shares during the period. Norges Bank purchased a new position in Pfizer during the 4th quarter valued at about $2,328,986,000. Massachusetts Financial Services Co. MA lifted its position in 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, Northern Trust Corp lifted its position in Pfizer by 7.7% during the 4th quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company's stock valued at $1,548,889,000 after acquiring an additional 4,167,222 shares during the period. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

PFE stock traded down $0.06 during midday trading on Wednesday, reaching $25.56. 38,339,365 shares of the company's stock traded hands, compared to its average volume of 41,804,116. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The stock has a market cap of $145.32 billion, a P/E ratio of 18.52, a PEG ratio of 0.93 and a beta of 0.58. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The stock's 50-day moving average is $23.82 and its 200 day moving average is $24.82.

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, 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 business had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The firm's revenue was down 7.8% on a year-over-year basis. As a group, analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.73%. Pfizer's dividend payout ratio is currently 124.64%.

Analyst Ratings Changes

Several brokerages have issued reports on PFE. Bank of America lifted their target price on shares of Pfizer from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Wolfe Research lifted their target price on shares of Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Wednesday, April 30th. Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price for the company. BMO Capital Markets decreased their target price on shares of Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Finally, HSBC decreased their target price on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $28.55.

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.