Marcum Wealth LLC Buys 3,926 Shares of Pfizer Inc. (NYSE:PFE)

Marcum Wealth LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 11.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,265 shares of the biopharmaceutical company’s stock after acquiring an additional 3,926 shares during the quarter. Marcum Wealth LLC’s holdings in Pfizer were worth $1,034,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PFE. Clifford Swan Investment Counsel LLC boosted its stake in shares of Pfizer by 4.7% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after purchasing an additional 18,611 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Pfizer by 40.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after purchasing an additional 1,365,295 shares during the last quarter. LifePlan Financial LLC bought a new position in shares of Pfizer in the 4th quarter valued at about $255,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of Pfizer in the 4th quarter valued at about $16,166,000. Finally, KLCM Advisors Inc. boosted its stake in shares of Pfizer by 75.0% in the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after purchasing an additional 74,487 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Guggenheim started coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, June 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Morgan Stanley lifted their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Pfizer currently has an average rating of “Hold” and a consensus price target of $35.86.

Pfizer Price Performance

Shares of PFE opened at $27.75 on Friday. The company has a market cap of $157.22 billion, a price-to-earnings ratio of -462.34, a PEG ratio of 1.09 and a beta of 0.70. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $38.99. The company’s fifty day simple moving average is $27.67 and its 200 day simple moving average is $27.72. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. On average, research analysts forecast that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 10th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 6.06%. Pfizer’s payout ratio is -2,799.53%.

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.