Corundum Group Inc. Buys 18,153 Shares of Pfizer Inc. (NYSE:PFE)

Corundum Group Inc. raised its stake in Pfizer Inc. (NYSE:PFE) by 80.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 40,836 shares of the biopharmaceutical company’s stock after acquiring an additional 18,153 shares during the period. Corundum Group Inc.’s holdings in Pfizer were worth $1,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Matrix Asset Advisors Inc. NY lifted its position in Pfizer by 33.2% in the first quarter. Matrix Asset Advisors Inc. NY now owns 277,879 shares of the biopharmaceutical company’s stock valued at $7,711,000 after purchasing an additional 69,339 shares during the last quarter. St. Johns Investment Management Company LLC increased its stake in shares of Pfizer by 6.0% during the first quarter. St. Johns Investment Management Company LLC now owns 31,674 shares of the biopharmaceutical company’s stock valued at $879,000 after buying an additional 1,804 shares during the period. G&S Capital LLC increased its stake in shares of Pfizer by 36.7% during the first quarter. G&S Capital LLC now owns 100,163 shares of the biopharmaceutical company’s stock valued at $2,780,000 after buying an additional 26,891 shares during the period. Key Client Fiduciary Advisors LLC increased its stake in shares of Pfizer by 10.7% during the first quarter. Key Client Fiduciary Advisors LLC now owns 24,447 shares of the biopharmaceutical company’s stock valued at $678,000 after buying an additional 2,362 shares during the period. Finally, Sovereign Financial Group Inc. increased its stake in shares of Pfizer by 12.2% during the first quarter. Sovereign Financial Group Inc. now owns 16,929 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 1,837 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.2 %

Pfizer stock traded down $0.06 during mid-day trading on Thursday, hitting $27.36. The company had a trading volume of 2,035,212 shares, compared to its average volume of 40,757,340. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $27.77 and its two-hundred day moving average price is $27.69. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.80. The company has a market capitalization of $155.04 billion, a PE ratio of -456.92, a price-to-earnings-growth ratio of 1.10 and a beta of 0.70.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate 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 positive return on equity of 8.64% and a negative net margin of 0.56%. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.14%. Pfizer’s payout ratio is currently -2,799.53%.

Analysts Set New Price Targets

PFE has been the topic of several research analyst reports. Morgan Stanley boosted their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating 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. BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Ten equities 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, Pfizer has an average rating of “Hold” and a consensus price target of $35.86.

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.