Pfizer Inc. (NYSE:PFE) Shares Bought by Summit X LLC

Summit X LLC grew its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 86.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 27,542 shares of the biopharmaceutical company's stock after buying an additional 12,786 shares during the period. Summit X LLC's holdings in Pfizer were worth $698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Pfizer during the fourth quarter worth about $2,328,986,000. Starboard Value LP acquired a new position in Pfizer during the fourth quarter worth about $407,730,000. Assenagon Asset Management S.A. grew its position 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 during the period. Massachusetts Financial Services Co. MA grew its position 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 during the period. Finally, APG Asset Management N.V. grew its position 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 during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFE has been the topic of several recent analyst reports. BMO Capital Markets lowered their target price on shares of Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. Citigroup upped their price target on shares of Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. TD Cowen reduced their price target on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley upped their price target on shares of Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, Jefferies Financial Group upped their price target on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six 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 company presently has an average rating of "Hold" and a consensus price target of $28.55.

Pfizer Trading Down 0.1%

NYSE:PFE traded down $0.02 during trading hours on Thursday, reaching $24.59. 47,241,155 shares of the company were exchanged, compared to its average volume of 41,968,949. The stock has a 50 day simple moving average of $23.99 and a 200 day simple moving average of $24.77. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The firm has a market cap of $139.83 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 0.90 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The business had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter last year, the firm posted $0.82 EPS. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio 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.