Forum Financial Management LP Acquires 7,851 Shares of Pfizer Inc. (NYSE:PFE)

Forum Financial Management LP raised its position in Pfizer Inc. (NYSE:PFE) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,496 shares of the biopharmaceutical company’s stock after purchasing an additional 7,851 shares during the quarter. Forum Financial Management LP’s holdings in Pfizer were worth $2,648,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Pfizer during the fourth quarter worth approximately $2,328,986,000. Starboard Value LP acquired a new stake in Pfizer during the fourth quarter worth approximately $407,730,000. Assenagon Asset Management S.A. grew its stake in Pfizer by 307.5% during 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 grew its stake 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 purchasing an additional 5,350,381 shares during the period. Finally, APG Asset Management N.V. grew 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. 68.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PFE. Redburn Atlantic reduced their price objective on Pfizer from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Bank of America raised their target price on Pfizer from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Cantor Fitzgerald started coverage on Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price for the company. Jefferies Financial Group lifted their price target on Pfizer from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley boosted their target price on Pfizer from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.55.

Pfizer Price Performance

Shares of NYSE:PFE opened at $24.59 on Thursday. 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 firm has a market capitalization of $139.79 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.90 and a beta of 0.58. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The company’s fifty day moving average price is $23.99 and its 200 day moving average price is $24.77.

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

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 7.00%. Pfizer’s dividend payout ratio (DPR) is presently 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.