Pfizer Inc. (NYSE:PFE) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC boosted its holdings in Pfizer Inc. (NYSE:PFE) by 72.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,412 shares of the biopharmaceutical company’s stock after buying an additional 6,452 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Pfizer were worth $428,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC grew its position in Pfizer by 304.9% in the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 811 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in Pfizer in the 4th quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC boosted its stake in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. VisionPoint Advisory Group LLC boosted its stake in Pfizer by 52,350.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 1,047 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in Pfizer in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PFE shares. Morgan Stanley raised their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, June 26th. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.54.

Pfizer Stock Up 0.6 %

PFE stock opened at $27.98 on Monday. 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 Inc. has a 1 year low of $25.20 and a 1 year high of $37.80. The company has a fifty day simple moving average of $27.90 and a 200 day simple moving average of $27.69. The firm has a market cap of $158.55 billion, a PE ratio of -466.26, a PEG ratio of 1.10 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The business had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the business earned $1.23 EPS. Pfizer’s quarterly revenue was down 19.5% compared to the same quarter last year. Sell-side analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.68 annualized dividend and a yield of 6.00%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

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.