Edge Wealth Management LLC Increases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Edge Wealth Management LLC lifted its holdings in Pfizer Inc. (NYSE:PFE) by 2.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 260,180 shares of the biopharmaceutical company’s stock after purchasing an additional 5,121 shares during the period. Pfizer comprises approximately 1.5% of Edge Wealth Management LLC’s holdings, making the stock its 24th biggest position. Edge Wealth Management LLC’s holdings in Pfizer were worth $7,220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFE. Wellington Management Group LLP grew its position in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after purchasing an additional 8,473,686 shares during the period. Morgan Stanley increased its position in Pfizer by 0.4% in the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock worth $2,817,055,000 after buying an additional 348,628 shares in the last quarter. Norges Bank purchased a new position in shares of Pfizer during the 4th quarter valued at about $2,129,927,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday. Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.86.

Pfizer Trading Up 0.5 %

Shares of NYSE PFE traded up $0.13 during trading hours on Friday, reaching $27.93. The stock had a trading volume of 2,243,389 shares, compared to its average volume of 40,659,359. The business’s fifty day moving average price is $27.81 and its two-hundred day moving average price is $27.69. The firm has a market cap of $158.27 billion, a price-to-earnings ratio of -463.26, a P/E/G ratio of 1.08 and a beta of 0.70. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $37.80. 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 announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm 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 company’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 EPS. Analysts expect that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The company 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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is currently -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.