Perigon Wealth Management LLC Has $3 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Perigon Wealth Management LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 118,361 shares of the biopharmaceutical company’s stock after buying an additional 5,857 shares during the period. Perigon Wealth Management LLC’s holdings in Pfizer were worth $2,999,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company’s stock worth $13,756,738,000 after purchasing an additional 2,285,276 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Geode Capital Management LLC increased its holdings in Pfizer by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company’s stock worth $3,190,131,000 after buying an additional 2,923,537 shares during the last quarter. Norges Bank acquired a new position in Pfizer during the fourth quarter worth $2,328,986,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock worth $2,029,604,000 after buying an additional 5,350,381 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Trading Down 0.2%

PFE stock opened at $24.20 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. The company’s 50-day simple moving average is $23.46 and its 200 day simple moving average is $24.85. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The company has a market capitalization of $137.56 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 0.88 and a beta of 0.57.

Pfizer (NYSE:PFE) last released 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. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The business had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the prior year, the company posted $0.82 earnings per share. Pfizer’s revenue was down 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.11%. Pfizer’s dividend payout ratio is 124.64%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PFE. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Citigroup restated a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price objective on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $25.00 price objective (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price 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.