Valley Wealth Managers Inc. Boosts Stake in Pfizer Inc. (NYSE:PFE)

Key Points

• Valley Wealth Managers Inc. increased its ownership of Pfizer Inc. by 44.9%, now holding 781,790 shares valued at approximately $19.81 million, making Pfizer its 29th largest investment.
• Pfizer recently reported earnings per share of $0.92 for the latest quarter, surpassing estimates, although its revenue decreased by 7.8% year-over-year.
• The company announced a quarterly dividend of $0.43 per share, which reflects a dividend yield of 6.94% and a payout ratio of 124.64%.

Valley Wealth Managers Inc. increased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 44.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,790 shares of the biopharmaceutical company's stock after purchasing an additional 242,296 shares during the period. Pfizer makes up approximately 1.5% of Valley Wealth Managers Inc.'s holdings, making the stock its 29th biggest position. Valley Wealth Managers Inc.'s holdings in Pfizer were worth $19,811,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PFE. Brighton Jones LLC lifted its stake in Pfizer by 1,282.4% during the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock valued at $17,677,000 after acquiring an additional 618,117 shares during the period. Revolve Wealth Partners LLC lifted its stake in Pfizer by 12.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock valued at $498,000 after acquiring an additional 2,087 shares during the period. Segall Bryant & Hamill LLC lifted its stake in Pfizer by 4.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 76,539 shares of the biopharmaceutical company's stock valued at $2,031,000 after acquiring an additional 3,177 shares during the period. Financial Engines Advisors L.L.C. bought a new position in shares of Pfizer in the 4th quarter worth approximately $384,000. Finally, Ausdal Financial Partners Inc. lifted its stake in shares of Pfizer by 66.7% in the 4th quarter. Ausdal Financial Partners Inc. now owns 25,658 shares of the biopharmaceutical company's stock worth $681,000 after purchasing an additional 10,262 shares during the period. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

PFE traded down $0.06 during trading on Tuesday, hitting $24.26. 19,084,163 shares of the stock were exchanged, compared to its average volume of 45,156,672. The stock has a fifty day moving average price of $24.32 and a two-hundred day moving average price of $24.63. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $31.54. The firm has a market capitalization of $137.90 billion, a P/E ratio of 17.58, a PEG ratio of 0.90 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 (NYSE:PFE - Get Free Report) last announced 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 return on equity of 20.33% and a net margin of 12.62%. The company had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same period last year, the business posted $0.82 EPS. The company's revenue was down 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 7.09%. Pfizer's dividend payout ratio (DPR) is currently 124.64%.

Analysts Set New Price Targets

PFE has been the topic of several recent research reports. HSBC lowered their price objective on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. TD Cowen lowered their price objective on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Wolfe Research raised their target price on shares of Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald began coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price on the stock. Finally, Leerink Partners cut their price objective on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $28.55.

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.