Signature Wealth Management Group Increases Position in Pfizer Inc. (NYSE:PFE)

Signature Wealth Management Group boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 15.7% during the first quarter, HoldingsChannel.com reports. The firm owned 153,511 shares of the biopharmaceutical company’s stock after purchasing an additional 20,873 shares during the period. Pfizer makes up approximately 1.5% of Signature Wealth Management Group’s holdings, making the stock its 27th largest holding. Signature Wealth Management Group’s holdings in Pfizer were worth $3,890,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in Pfizer during the fourth quarter valued at $509,000. Brighton Jones LLC lifted its stake in Pfizer by 1,282.4% in the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock valued at $17,677,000 after buying an additional 618,117 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Pfizer by 12.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock worth $498,000 after buying an additional 2,087 shares during the last quarter. Banque Pictet & Cie SA increased its stake in Pfizer by 9.6% during the 4th quarter. Banque Pictet & Cie SA now owns 15,108 shares of the biopharmaceutical company’s stock worth $401,000 after buying an additional 1,318 shares in the last quarter. Finally, TigerOak Management L.L.C. acquired a new position in shares of Pfizer during the fourth quarter valued at approximately $837,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PFE. UBS Group lifted their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $25.00 target price (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Finally, Citigroup restated a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Pfizer Trading Down 1.3%

PFE opened at $24.51 on Monday. The stock has a market capitalization of $139.35 billion, a PE ratio of 17.38, a P/E/G ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The business’s 50 day moving average price is $23.06 and its 200 day moving average price is $24.95.

Pfizer (NYSE:PFE) last announced its quarterly 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. The business had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 9th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.02%. The ex-dividend date was Friday, May 9th. Pfizer’s dividend payout ratio (DPR) 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.