Starboard Value LP Buys Shares of 15,368,658 Pfizer Inc. (NYSE:PFE)

Starboard Value LP bought a new position in shares of Pfizer Inc. (NYSE:PFE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,368,658 shares of the biopharmaceutical company's stock, valued at approximately $407,730,000. Pfizer makes up 7.4% of Starboard Value LP's holdings, making the stock its 5th biggest position. Starboard Value LP owned 0.27% of Pfizer as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Pfizer during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Pfizer in the 4th quarter valued at $26,000. Clarity Asset Management Inc. acquired a new position in Pfizer in the fourth quarter valued at $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Pfizer during the fourth quarter worth approximately $28,000. Finally, Noble Wealth Management PBC acquired a new position in Pfizer in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PFE shares. Cantor Fitzgerald began coverage on Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Guggenheim restated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, Citigroup reissued a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eight have assigned 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

Pfizer Stock Down 0.1%

Shares of Pfizer stock traded down $0.02 on Thursday, hitting $23.03. The company had a trading volume of 19,477,368 shares, compared to its average volume of 41,006,328. The stock has a 50-day moving average of $23.50 and a 200-day moving average of $25.25. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The firm has a market capitalization of $130.91 billion, a P/E ratio of 16.32, a P/E/G ratio of 0.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. Pfizer's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.82 earnings per share. Research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer's payout ratio is presently 124.64%.

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.