Signature Wealth Management Group Boosts Position in Pfizer Inc. (NYSE:PFE)

Signature Wealth Management Group raised its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 15.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,511 shares of the biopharmaceutical company's stock after purchasing an additional 20,873 shares during the period. Pfizer makes up approximately 1.5% of Signature Wealth Management Group's holdings, making the stock its 27th biggest position. Signature Wealth Management Group's holdings in Pfizer were worth $3,890,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PFE. Mcdonald Partners LLC increased its position in shares of Pfizer by 9.9% during the 4th quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company's stock worth $2,926,000 after purchasing an additional 9,963 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of Pfizer during the 4th quarter worth about $264,000. ING Groep NV increased its position in shares of Pfizer by 48.6% during the 4th quarter. ING Groep NV now owns 1,013,230 shares of the biopharmaceutical company's stock worth $26,881,000 after purchasing an additional 331,403 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Pfizer during the 4th quarter worth about $2,281,000. Finally, Sage Mountain Advisors LLC increased its position in shares of Pfizer by 7.3% during the 4th quarter. Sage Mountain Advisors LLC now owns 20,587 shares of the biopharmaceutical company's stock worth $546,000 after purchasing an additional 1,404 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PFE shares. UBS Group raised their price objective 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. Guggenheim restated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Citigroup restated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective for the company. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Pfizer has an average rating of "Moderate Buy" and an average target price of $29.17.

Pfizer Trading Down 0.6%

Shares of PFE stock traded down $0.14 during trading hours on Monday, hitting $24.40. 35,078,445 shares of the company were exchanged, compared to its average volume of 41,184,640. The firm has a market cap of $138.71 billion, a P/E ratio of 17.30, a P/E/G ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a 50 day simple moving average of $23.06 and a two-hundred day simple moving average of $24.95.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $13.72 billion for the quarter, compared to analysts' expectations of $14.43 billion. During the same period last year, the business earned $0.82 EPS. Pfizer's quarterly revenue was down 7.8% compared to the same quarter last year. Equities 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 was paid on Friday, June 13th. Stockholders of record on Friday, May 9th were paid 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 was Friday, May 9th. Pfizer's payout ratio is 124.64%.

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.