Tectonic Advisors LLC boosted its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,619 shares of the biopharmaceutical company's stock after acquiring an additional 20,933 shares during the quarter. Tectonic Advisors LLC's holdings in Pfizer were worth $6,199,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PFE. Norges Bank bought a new stake in Pfizer in the fourth quarter worth about $2,328,986,000. Starboard Value LP purchased a new position in Pfizer in the 4th quarter worth about $407,730,000. Assenagon Asset Management S.A. increased its stake in Pfizer by 307.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock worth $254,574,000 after purchasing an additional 7,581,030 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Pfizer by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after purchasing an additional 5,350,381 shares in the last quarter. Finally, APG Asset Management N.V. increased its stake in Pfizer by 1,106.0% in the 4th quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock worth $143,967,000 after purchasing an additional 5,153,257 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. Redburn Atlantic dropped their price target on Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Berenberg Bank lowered their target price on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Wolfe Research lifted their target price on Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Wednesday, April 30th. BMO Capital Markets lowered their target price on Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. Finally, Bank of America lifted their target price on Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of "Hold" and a consensus price target of $28.55.
Get Our Latest Analysis on PFE
Pfizer Stock Performance
Shares of PFE stock traded down $0.12 during trading hours on Friday, reaching $24.46. 36,109,875 shares of the company's stock were exchanged, compared to its average volume of 41,932,741. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The stock has a market capitalization of $139.06 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.90 and a beta of 0.58. The business has a fifty day moving average price of $24.02 and a 200-day moving average price of $24.75. 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 (NYSE:PFE - Get Free Report) last issued 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. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The company had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The company's quarterly revenue was down 7.8% compared to the same quarter last year. Analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.
Pfizer Announces Dividend
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 issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.03%. Pfizer's dividend payout ratio (DPR) is presently 124.64%.
About Pfizer
(
Free Report)
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.
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