Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Key Points

• Zurcher Kantonalbank increased its ownership in Pfizer Inc. by 36.0%, acquiring an additional 905,274 shares for a total of 3,420,896 shares valued at approximately $86.7 million.
• Pfizer reported $0.92 earnings per share for the latest quarter, exceeding expectations, despite experiencing a **7.8% decline** in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.43 per share, resulting in a 6.94% yield, with a payout ratio of 124.64%.

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 36.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,420,896 shares of the biopharmaceutical company's stock after buying an additional 905,274 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Pfizer worth $86,686,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. William B. Walkup & Associates Inc. raised its stake in shares of Pfizer by 1.2% in the 4th quarter. William B. Walkup & Associates Inc. now owns 39,368 shares of the biopharmaceutical company's stock valued at $1,044,000 after buying an additional 454 shares in the last quarter. Members Trust Co grew its holdings in shares of Pfizer by 2.1% in the 1st quarter. Members Trust Co now owns 23,175 shares of the biopharmaceutical company's stock worth $587,000 after purchasing an additional 467 shares during the last quarter. Sutton Place Investors LLC grew its holdings in shares of Pfizer by 5.6% in the 1st quarter. Sutton Place Investors LLC now owns 8,833 shares of the biopharmaceutical company's stock worth $224,000 after purchasing an additional 472 shares during the last quarter. Bellevue Group AG grew its holdings in shares of Pfizer by 0.3% in the 4th quarter. Bellevue Group AG now owns 141,560 shares of the biopharmaceutical company's stock worth $3,756,000 after purchasing an additional 485 shares during the last quarter. Finally, Gould Capital LLC grew its holdings in shares of Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 493 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research analyst reports. HSBC decreased their price target on Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Wolfe Research lifted their price target on Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Wednesday, April 30th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, UBS Group raised their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer has a consensus rating of "Hold" and an average target price of $28.55.

Pfizer Price Performance

NYSE PFE traded down $0.18 on Wednesday, hitting $24.13. 12,795,868 shares of the company's stock were exchanged, compared to its average volume of 45,067,309. The stock has a 50-day moving average of $24.34 and a 200-day moving average of $24.63. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.32. The stock has a market cap of $137.16 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 0.88 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. Analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company 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. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 7.13%. Pfizer's dividend payout ratio is presently 124.64%.

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.