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

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

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Pfizer by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock worth $13,756,738,000 after acquiring an additional 2,285,276 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Pfizer by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock valued at $3,190,131,000 after acquiring an additional 2,923,537 shares in the last quarter. Norges Bank purchased a new stake in shares of Pfizer in the fourth quarter valued at about $2,328,986,000. Massachusetts Financial Services Co. MA boosted its holdings in Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after buying an additional 5,350,381 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Pfizer by 7.7% during the fourth quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company's stock worth $1,548,889,000 after buying an additional 4,167,222 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Stock Down 0.9%

PFE traded down $0.23 on Wednesday, reaching $25.40. 19,887,304 shares of the company traded hands, compared to its average volume of 41,714,801. The stock's 50 day moving average price is $23.80 and its 200-day moving average price is $24.81. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The company has a market cap of $144.38 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 0.92 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion during 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 company's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is 124.64%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup upped 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. Jefferies Financial Group upped their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Guggenheim reissued a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Redburn Atlantic decreased their target price on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. 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 research note on Monday, May 19th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.