Norden Group LLC Grows Position in Pfizer Inc. (NYSE:PFE)

Norden Group LLC lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 2,326.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 580,602 shares of the biopharmaceutical company’s stock after buying an additional 556,670 shares during the quarter. Norden Group LLC’s holdings in Pfizer were worth $16,112,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Clifford Swan Investment Counsel LLC raised its holdings in shares of Pfizer by 4.7% during 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 buying an additional 18,611 shares during the period. LifePlan Financial LLC purchased a new stake in shares of Pfizer during the 4th quarter valued at about $255,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Pfizer during the 4th quarter valued at approximately $16,166,000. KLCM Advisors Inc. grew its stake in Pfizer by 75.0% during 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 in the last quarter. Finally, Farmers Trust Co. grew its position in shares of Pfizer by 2.0% in the 4th quarter. Farmers Trust Co. now owns 225,881 shares of the biopharmaceutical company’s stock worth $6,503,000 after acquiring an additional 4,410 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Down 0.6 %

Shares of Pfizer stock opened at $27.67 on Thursday. The business’s fifty day moving average price is $27.96 and its two-hundred day moving average price is $27.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The company has a market capitalization of $156.79 billion, a P/E ratio of -461.09, a PEG ratio of 1.09 and a beta of 0.69. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $37.80.

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

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date is Thursday, July 25th. Pfizer’s dividend payout ratio is presently -2,799.53%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, June 26th. Morgan Stanley lifted their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pfizer has a consensus rating of “Hold” and an average price target of $35.54.

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.