Forvis Mazars Wealth Advisors LLC Acquires 1,996 Shares of Pfizer Inc. (NYSE:PFE)

Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 4.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 52,489 shares of the biopharmaceutical company’s stock after purchasing an additional 1,996 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Pfizer were worth $1,330,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of Pfizer by 856.8% in the first quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company’s stock valued at $508,164,000 after acquiring an additional 17,957,928 shares during the period. Nuveen LLC purchased a new position in shares of Pfizer in the first quarter valued at about $389,861,000. Starboard Value LP purchased a new position in shares of Pfizer in the fourth quarter valued at about $407,730,000. Goldman Sachs Group Inc. increased its position in shares of Pfizer by 51.9% in the first quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company’s stock valued at $670,407,000 after acquiring an additional 9,041,990 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of 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 valued at $254,574,000 after acquiring an additional 7,581,030 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PFE shares. Bank of America boosted their price objective on shares of Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Wolfe Research boosted their price objective on shares of Pfizer from $22.00 to $23.00 and gave the company an “underperform” rating in a research report on Wednesday, April 30th. Citigroup boosted their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Berenberg Bank reduced their price target on shares of Pfizer from $28.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, May 29th. Finally, Cantor Fitzgerald assumed coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.12.

Pfizer Trading Up 0.2%

NYSE:PFE opened at $25.16 on Friday. Pfizer Inc. has a one year low of $20.92 and a one year high of $30.43. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The company’s 50-day simple moving average is $24.60 and its 200 day simple moving average is $24.44. The firm has a market capitalization of $143.05 billion, a P/E ratio of 13.38, a PEG ratio of 0.89 and a beta of 0.52.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Pfizer’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

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. This represents a $1.72 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Friday, July 25th. Pfizer’s dividend payout ratio is currently 91.49%.

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.