Pfizer Inc. (NYSE:PFE) Position Increased by Garrett Wealth Advisory Group LLC

Garrett Wealth Advisory Group LLC raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,135 shares of the biopharmaceutical company’s stock after buying an additional 1,215 shares during the period. Garrett Wealth Advisory Group LLC’s holdings in Pfizer were worth $510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFE. Norges Bank bought a new stake in Pfizer during the fourth quarter valued at about $2,328,986,000. Starboard Value LP bought a new position in Pfizer in the fourth quarter worth $407,730,000. Assenagon Asset Management S.A. lifted its position in Pfizer by 307.5% in the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock worth $254,574,000 after purchasing an additional 7,581,030 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Pfizer by 7.5% in 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 purchasing an additional 5,350,381 shares during the period. Finally, APG Asset Management N.V. lifted its stake in Pfizer by 1,106.0% during the fourth quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company’s stock worth $143,967,000 after purchasing an additional 5,153,257 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Down 0.6%

Shares of PFE stock opened at $25.23 on Tuesday. The firm has a market capitalization of $143.44 billion, a P/E ratio of 18.28, a P/E/G ratio of 0.92 and a beta of 0.58. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $23.76 and its 200 day simple moving average is $24.81.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The company had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue was down 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm 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 $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.82%. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PFE. Wolfe Research raised their price objective on shares of Pfizer from $22.00 to $23.00 and gave the stock an “underperform” rating in a report on Wednesday, April 30th. Berenberg Bank lowered their price target on shares of Pfizer from $28.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, May 29th. 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. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Finally, Bank of America raised their price objective on shares of Pfizer from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.55.

Pfizer Company 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.