Cornerstone Wealth Management LLC Purchases 10,314 Shares of Pfizer Inc. (NYSE:PFE)

Cornerstone Wealth Management LLC increased its position in Pfizer Inc. (NYSE:PFE) by 19.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 63,545 shares of the biopharmaceutical company’s stock after buying an additional 10,314 shares during the period. Cornerstone Wealth Management LLC’s holdings in Pfizer were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFE. VisionPoint Advisory Group LLC increased its stake in shares of Pfizer by 52,350.0% in the third 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. GoalVest Advisory LLC increased its position in Pfizer by 304.9% in the 4th 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 period. Creekmur Asset Management LLC acquired a new position in shares of Pfizer during the fourth quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC boosted its position in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new position in Pfizer during the fourth quarter worth $36,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PFE. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Morgan Stanley increased their target price 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. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, June 26th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.54.

Pfizer Stock Down 0.5 %

Shares of NYSE PFE opened at $27.70 on Friday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $37.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The business has a fifty day moving average of $27.99 and a two-hundred day moving average of $27.71. The stock has a market cap of $156.96 billion, a PE ratio of -461.59, a PEG ratio of 1.09 and a beta of 0.69.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $1.23 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.06%. The ex-dividend date is Thursday, July 25th. Pfizer’s payout ratio is currently -2,799.53%.

Pfizer 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.