First Interstate Bank Raises Position in Pfizer Inc. (NYSE:PFE)

First Interstate Bank grew its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 147,937 shares of the biopharmaceutical company’s stock after purchasing an additional 2,423 shares during the quarter. First Interstate Bank’s holdings in Pfizer were worth $3,749,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Clarity Asset Management Inc. purchased a new position in shares of Pfizer in the 4th quarter worth $27,000. Gould Capital LLC raised its position in shares of Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 493 shares during the period. North Capital Inc. purchased a new position in shares of Pfizer in the 1st quarter worth $28,000. Bernard Wealth Management Corp. purchased a new position in shares of Pfizer in the 4th quarter worth $30,000. Finally, Curio Wealth LLC purchased a new position in shares of Pfizer in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Wolfe Research raised their price objective on Pfizer from $22.00 to $23.00 and gave the company an “underperform” rating in a research report on Wednesday, April 30th. BMO Capital Markets cut their price objective on Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. The Goldman Sachs Group raised their price objective on Pfizer from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Finally, Berenberg Bank cut their price objective on Pfizer from $28.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer has an average rating of “Hold” and an average target price of $28.55.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.02 during midday trading on Wednesday, hitting $25.61. 3,543,906 shares of the company’s stock were exchanged, compared to its average volume of 41,652,189. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The stock’s 50 day moving average price is $23.80 and its 200-day moving average price is $24.81. The firm has a market cap of $145.57 billion, a P/E ratio of 18.56, a PEG 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.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.67 by $0.25. The firm had revenue of $13.72 billion for the quarter, compared to analysts’ expectations of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 earnings per share. Equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.72%. Pfizer’s dividend payout ratio (DPR) is 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.