Pfizer Inc. (NYSE:PFE) Shares Acquired by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. increased its holdings in Pfizer Inc. (NYSE:PFE) by 7.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 16,160 shares of the biopharmaceutical company’s stock after buying an additional 1,135 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Pfizer were worth $409,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in Pfizer by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company’s stock valued at $3,190,131,000 after purchasing an additional 2,923,537 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Pfizer by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock valued at $2,029,604,000 after purchasing an additional 5,350,381 shares during the period. Northern Trust Corp boosted its stake in Pfizer by 7.7% during the 4th quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company’s stock valued at $1,548,889,000 after purchasing an additional 4,167,222 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Pfizer by 3.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,402,619 shares of the biopharmaceutical company’s stock valued at $1,045,351,000 after purchasing an additional 1,333,740 shares during the period. Finally, Invesco Ltd. boosted its stake in Pfizer by 9.6% during the 4th quarter. Invesco Ltd. now owns 29,458,139 shares of the biopharmaceutical company’s stock valued at $781,524,000 after purchasing an additional 2,579,455 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Down 2.2%

Shares of NYSE:PFE opened at $24.79 on Monday. 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 has a market cap of $140.91 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The firm has a 50 day simple moving average of $24.30 and a 200 day simple moving average of $24.65.

Pfizer (NYSE:PFE) last issued 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. The business had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. As a group, research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared 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 is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 6.94%. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

Analysts Set New Price Targets

A number of research firms have issued reports on PFE. Cantor Fitzgerald began coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price for the company. Berenberg Bank reduced their target price on shares of Pfizer from $28.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, May 29th. TD Cowen dropped their price target on shares of Pfizer from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Wolfe Research boosted their price target on shares of Pfizer from $22.00 to $23.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group boosted their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer has a consensus rating of “Hold” and an average target price 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.