Zimmer Partners LP Purchases Shares of 834,100 Pfizer Inc. (NYSE:PFE)

Zimmer Partners LP bought a new stake in Pfizer Inc. (NYSE:PFE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 834,100 shares of the biopharmaceutical company's stock, valued at approximately $22,129,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parsons Capital Management Inc. RI lifted its stake in shares of Pfizer by 118.7% during the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company's stock valued at $7,820,000 after buying an additional 159,984 shares in the last quarter. Mcdonald Partners LLC increased its holdings in Pfizer by 9.9% during the 4th quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company's stock worth $2,926,000 after acquiring an additional 9,963 shares during the period. Merit Financial Group LLC increased its holdings in Pfizer by 60.8% during the 4th quarter. Merit Financial Group LLC now owns 127,967 shares of the biopharmaceutical company's stock worth $3,395,000 after acquiring an additional 48,397 shares during the period. Bank of Jackson Hole Trust bought a new stake in Pfizer during the 4th quarter worth approximately $264,000. Finally, Amplius Wealth Advisors LLC increased its holdings in Pfizer by 80.7% during the 4th quarter. Amplius Wealth Advisors LLC now owns 46,823 shares of the biopharmaceutical company's stock worth $1,242,000 after acquiring an additional 20,911 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Down 2.0%

Shares of PFE stock traded down $0.46 on Wednesday, hitting $23.06. 42,933,836 shares of the company's stock traded hands, compared to its average volume of 41,086,125. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The company's fifty day simple moving average is $23.50 and its 200 day simple moving average is $25.25. The stock has a market capitalization of $131.10 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 0.64 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm's quarterly revenue was down 7.8% compared to the same quarter last year. Equities analysts forecast 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 Friday, June 13th. Investors of record on Friday, May 9th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.46%. The ex-dividend date is Friday, May 9th. Pfizer's dividend payout ratio is currently 124.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PFE shares. Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. UBS Group upped their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target on the stock. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Pfizer presently has an average rating of "Moderate Buy" and an average price target of $29.17.

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.