Pfizer Inc. (NYSE:PFE) Shares Acquired by Westpac Banking Corp

Key Points

• Westpac Banking Corp has increased its stake in Pfizer Inc. by 85.6%, acquiring an additional 87,937 shares, bringing its total holdings to 190,608 shares valued at approximately $4.83 million.
• Several hedge funds, including Vanguard Group Inc. and Northern Trust Corp, have also significantly boosted their stakes in Pfizer, indicating strong institutional interest.
• Pfizer announced a quarterly dividend of $0.43 per share, reflecting a 7.0% yield, with shareholders of record set to receive this payment on September 2nd.

Westpac Banking Corp grew its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 85.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,608 shares of the biopharmaceutical company's stock after acquiring an additional 87,937 shares during the period. Westpac Banking Corp's holdings in Pfizer were worth $4,830,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. acquired a new position in Pfizer during the 4th quarter worth $27,000. Gould Capital LLC grew its holdings in Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 493 shares in the last quarter. North Capital Inc. acquired a new position in Pfizer during the 1st quarter worth $28,000. Bayforest Capital Ltd acquired a new position in Pfizer during the 1st quarter worth $28,000. Finally, Bernard Wealth Management Corp. acquired a new position in Pfizer during the 4th quarter worth $30,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Performance

Shares of PFE traded up $0.06 during trading hours on Tuesday, reaching $24.64. 34,400,469 shares of the company's stock traded hands, compared to its average volume of 47,175,628. The firm has a market capitalization of $140.06 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 0.88 and a beta of 0.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $30.43. The business's fifty day simple moving average is $24.49 and its two-hundred day simple moving average is $24.47.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.20. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 91.49%.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research reports. Jefferies Financial Group increased their target price on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. BMO Capital Markets dropped their target price on shares of Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Berenberg Bank dropped their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Leerink Partners dropped their target price on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Finally, Bank of America increased their target price on shares of Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $28.12.

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.