Procyon Advisors LLC grew its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 41.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,591 shares of the biopharmaceutical company's stock after buying an additional 23,020 shares during the period. Procyon Advisors LLC's holdings in Pfizer were worth $1,954,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Rialto Wealth Management LLC purchased a new stake in shares of Pfizer in the fourth quarter worth $26,000. Clarity Asset Management Inc. bought a new position in Pfizer in the 4th quarter worth $27,000. Gould Capital LLC increased its stake in Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 493 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Pfizer during the fourth quarter valued at about $28,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Pfizer in the fourth quarter valued at about $30,000. 68.36% of the stock is currently owned by institutional investors.
Pfizer Stock Up 1.0%
Shares of NYSE:PFE opened at $23.36 on Friday. The company has a market cap of $132.81 billion, a price-to-earnings ratio of 16.57, 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. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $22.95 and a 200 day moving average price of $25.00.
Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The business had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company's quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.
Pfizer Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.36%. The ex-dividend date is Friday, May 9th. Pfizer's dividend payout ratio is currently 124.64%.
Wall Street Analyst Weigh In
PFE has been the topic of several recent analyst reports. Citigroup reissued a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective on the stock. Guggenheim reissued a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Finally, Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Pfizer has an average rating of "Moderate Buy" and an average target price of $29.17.
Get Our Latest Stock Report on PFE
About Pfizer
(
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.
Read More
Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Pfizer, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pfizer wasn't on the list.
While Pfizer currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
