SteelPeak Wealth LLC Grows Holdings in Pfizer Inc. (NYSE:PFE)

SteelPeak Wealth LLC lifted its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 1,101.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 221,061 shares of the biopharmaceutical company's stock after purchasing an additional 202,659 shares during the quarter. SteelPeak Wealth LLC's holdings in Pfizer were worth $5,602,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PFE. Norges Bank bought a new stake in Pfizer during the fourth quarter worth $2,328,986,000. Starboard Value LP bought a new stake in Pfizer during the fourth quarter worth $407,730,000. Assenagon Asset Management S.A. grew its holdings in Pfizer by 307.5% during the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock worth $254,574,000 after buying an additional 7,581,030 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after buying an additional 5,350,381 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in Pfizer by 1,106.0% during the fourth quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock worth $143,967,000 after buying an additional 5,153,257 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

PFE traded down $0.13 during trading on Friday, reaching $25.65. 34,838,317 shares of the company were exchanged, compared to its average volume of 41,792,724. The company's 50-day moving average is $23.89 and its two-hundred day moving average is $24.80. The company has a market cap of $145.83 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 0.94 and a beta of 0.58. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54.

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, topping analysts' consensus estimates of $0.67 by $0.25. The business had revenue of $13.72 billion for the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The firm's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 EPS. Research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.71%. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PFE. BMO Capital Markets decreased their price target on Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Cantor Fitzgerald started coverage on Pfizer in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective for the company. Morgan Stanley upped their price objective on Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Guggenheim restated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, UBS Group upped their price objective on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Pfizer presently has an average rating of "Hold" and a consensus target price of $28.55.

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.