Principal Securities Inc. Makes New Investment in Pfizer Inc. (NYSE:PFE)

Principal Securities Inc. purchased a new stake in Pfizer Inc. (NYSE:PFE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 83,109 shares of the biopharmaceutical company's stock, valued at approximately $2,393,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trifecta Capital Advisors LLC grew its holdings in Pfizer by 3.7% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 9,197 shares of the biopharmaceutical company's stock worth $305,000 after acquiring an additional 325 shares during the last quarter. Confluence Wealth Services Inc. grew its stake in shares of Pfizer by 0.5% in the third quarter. Confluence Wealth Services Inc. now owns 65,053 shares of the biopharmaceutical company's stock worth $2,158,000 after purchasing an additional 342 shares during the last quarter. Carr Financial Group Corp increased its holdings in Pfizer by 3.3% in the third quarter. Carr Financial Group Corp now owns 11,012 shares of the biopharmaceutical company's stock valued at $344,000 after purchasing an additional 355 shares during the period. Lafayette Investments Inc. raised its position in Pfizer by 2.2% during the 3rd quarter. Lafayette Investments Inc. now owns 17,470 shares of the biopharmaceutical company's stock worth $579,000 after purchasing an additional 368 shares during the last quarter. Finally, Safeguard Investment Advisory Group LLC lifted its holdings in Pfizer by 3.9% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 9,987 shares of the biopharmaceutical company's stock worth $288,000 after buying an additional 371 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Trading Down 0.6 %

PFE stock traded down $0.16 during mid-day trading on Friday, reaching $28.02. 25,819,661 shares of the company traded hands, compared to its average volume of 44,708,136. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The firm's 50 day moving average price is $26.97 and its 200 day moving average price is $28.12. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $40.37.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The business had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Pfizer's revenue was down 19.5% compared to the same quarter last year. On average, analysts predict that Pfizer Inc. will post 2.39 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date is Thursday, May 9th. Pfizer's payout ratio is -2,799.53%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PFE shares. BMO Capital Markets restated an "outperform" rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Guggenheim began coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a "buy" rating and a $36.00 target price for the company. Morgan Stanley upped their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, May 2nd. Finally, Argus lowered Pfizer from a "buy" rating to a "hold" rating in a research report on Friday, March 22nd. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $36.00.

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.

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