Private Advisor Group LLC Purchases 42,238 Shares of Pfizer Inc. (NYSE:PFE)

Private Advisor Group LLC grew its position in shares of Pfizer Inc. (NYSE:PFE) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 707,714 shares of the biopharmaceutical company’s stock after buying an additional 42,238 shares during the quarter. Private Advisor Group LLC’s holdings in Pfizer were worth $17,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PFE. Norges Bank bought a new stake in Pfizer during the fourth quarter worth about $2,328,986,000. Starboard Value LP bought a new stake in Pfizer during the fourth quarter worth about $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 buying an additional 7,581,030 shares during the last quarter. 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 buying an additional 5,350,381 shares during the last quarter. 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 buying an additional 5,153,257 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Down 0.5%

PFE opened at $24.46 on Friday. The firm’s fifty day moving average is $24.07 and its two-hundred day moving average is $24.74. 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 firm has a market cap of $139.06 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.90 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 posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the business posted $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 issued a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.03%. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup increased their price target on shares of Pfizer from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Jefferies Financial Group increased their price target on shares of Pfizer from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 21st. BMO Capital Markets decreased their price target on shares of Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. UBS Group increased their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley increased their price target on shares of 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 given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.55.

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.