Portside Wealth Group LLC raised its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,833 shares of the biopharmaceutical company's stock after purchasing an additional 14,661 shares during the quarter. Portside Wealth Group LLC's holdings in Pfizer were worth $1,719,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Pfizer during the 4th quarter worth approximately $2,328,986,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Starboard Value LP purchased a new stake in Pfizer in the 4th quarter valued at about $407,730,000. Raymond James Financial Inc. purchased a new stake in shares of Pfizer during the fourth quarter valued at approximately $274,694,000. Finally, Massachusetts Financial Services Co. MA grew its holdings 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 worth $2,029,604,000 after acquiring an additional 5,350,381 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on PFE. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Citigroup reissued a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. 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. The Goldman Sachs Group reiterated a "neutral" rating and set a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Finally, UBS Group boosted their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.17.
Check Out Our Latest Stock Report on Pfizer
Pfizer Stock Up 0.3%
NYSE PFE traded up $0.09 during trading on Wednesday, hitting $24.39. 23,123,588 shares of the company traded hands, compared to its average volume of 40,970,022. The business has a fifty day simple moving average of $22.93 and a 200 day simple moving average of $24.98. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The company has a market capitalization of $138.64 billion, a P/E ratio of 17.29, a PEG ratio of 0.64 and a beta of 0.57. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.
Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.
Pfizer Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date is Friday, May 9th. Pfizer's dividend payout ratio is currently 124.64%.
Pfizer Company Profile
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Free Report)
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.
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