Pfizer Inc. (NYSE:PFE) Stock Position Increased by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC boosted its position in Pfizer Inc. (NYSE:PFE) by 5.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,787 shares of the biopharmaceutical company’s stock after purchasing an additional 1,199 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Pfizer were worth $552,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Pfizer in the 4th quarter worth approximately $2,328,986,000. Starboard Value LP purchased a new position in Pfizer during the fourth quarter valued at approximately $407,730,000. Assenagon Asset Management S.A. grew its position 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 valued at $254,574,000 after purchasing an additional 7,581,030 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Pfizer by 7.5% in 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 acquiring an additional 5,350,381 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in Pfizer by 1,106.0% in 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 acquiring an additional 5,153,257 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PFE has been the topic of several analyst reports. TD Cowen lowered their price target on shares of Pfizer from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Leerink Partners lowered their price target on shares of Pfizer from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. Bank of America boosted their price target on shares of Pfizer from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Morgan Stanley boosted their price target on shares of Pfizer from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.55.

Pfizer Stock Down 0.5%

Shares of NYSE PFE opened at $24.46 on Friday. The company has a 50 day simple moving average of $24.07 and a 200 day simple moving average of $24.74. 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 1 year low of $20.92 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.03%. The ex-dividend date is Friday, July 25th. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

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.