QRG Capital Management Inc. Increases Position in Pfizer Inc. (NYSE:PFE)

QRG Capital Management Inc. increased its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 95.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 699,955 shares of the biopharmaceutical company's stock after buying an additional 342,476 shares during the quarter. QRG Capital Management Inc.'s holdings in Pfizer were worth $17,737,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new position in shares of Pfizer in the fourth quarter worth about $26,000. Clarity Asset Management Inc. acquired a new position in Pfizer in the 4th quarter worth approximately $27,000. Gould Capital LLC raised its position in Pfizer by 97.2% during 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 during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Pfizer during the 4th quarter valued at approximately $28,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Pfizer during the 4th quarter valued at approximately $30,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

NYSE:PFE traded down $0.14 during trading hours on Monday, reaching $24.40. 35,078,445 shares of the company were exchanged, compared to its average volume of 41,184,640. 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 firm has a market cap of $138.71 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The stock's 50-day moving average is $23.06 and its 200-day moving average is $24.95.

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, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company's revenue for the quarter was down 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.05%. The ex-dividend date was Friday, May 9th. Pfizer's payout ratio is 124.64%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Cantor Fitzgerald began coverage on Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. UBS Group upped their target price on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Citigroup reissued a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

Pfizer 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.