Somerset Trust Co Acquires 1,933 Shares of Pfizer Inc. (NYSE:PFE)

Somerset Trust Co increased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 9.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,454 shares of the biopharmaceutical company’s stock after purchasing an additional 1,933 shares during the period. Somerset Trust Co’s holdings in Pfizer were worth $594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFE. Rialto Wealth Management LLC purchased a new stake in Pfizer during the fourth quarter valued at approximately $26,000. Clarity Asset Management Inc. purchased a new position in shares of Pfizer during the fourth quarter worth $27,000. Gould Capital LLC increased its holdings in Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 493 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Pfizer in the fourth quarter valued at $28,000. Finally, Bernard Wealth Management Corp. purchased a new position in Pfizer in the fourth quarter valued at $30,000. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 target price on the stock. UBS Group boosted their target price on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, Citigroup reissued a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.17.

Pfizer Trading Up 0.0%

NYSE PFE opened at $23.46 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm’s fifty day moving average price is $23.12 and its 200 day moving average price is $25.07. The company has a market capitalization of $133.38 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion for 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 19.47%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date is Friday, May 9th. Pfizer’s dividend payout ratio is currently 124.64%.

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.