Sound Income Strategies LLC Raises Stake in Pfizer Inc. (NYSE:PFE)

Sound Income Strategies LLC lifted its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 790,953 shares of the biopharmaceutical company's stock after purchasing an additional 26,131 shares during the quarter. Pfizer comprises approximately 1.2% of Sound Income Strategies LLC's portfolio, making the stock its 22nd biggest position. Sound Income Strategies LLC's holdings in Pfizer were worth $20,043,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in shares of Pfizer during the fourth quarter worth approximately $26,000. Clarity Asset Management Inc. purchased a new position in Pfizer in the fourth quarter worth $27,000. Gould Capital LLC lifted its holdings in Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 493 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Pfizer during the 4th quarter worth $28,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Pfizer during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target for the company. UBS Group increased their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, Citigroup reiterated a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Pfizer presently has an average rating of "Moderate Buy" and an average target price of $29.17.

Pfizer Price Performance

NYSE:PFE traded down $0.33 during mid-day trading on Friday, hitting $24.51. 46,354,360 shares of the company's stock traded hands, compared to its average volume of 41,209,115. 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 firm's 50 day simple moving average is $23.06 and its 200 day simple moving average is $24.95. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54. The company has a market cap of $139.35 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57.

Pfizer (NYSE:PFE - Get Free Report) last posted its 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. 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 period last year, the firm posted $0.82 EPS. The firm's revenue for the quarter was down 7.8% on a year-over-year basis. Sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 9th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.02%. Pfizer's dividend payout ratio (DPR) is presently 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.