Pfizer Inc. (NYSE:PFE) Shares Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in Pfizer Inc. (NYSE:PFE) by 97.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,923 shares of the biopharmaceutical company’s stock after purchasing an additional 9,835 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Pfizer were worth $553,000 at the end of the most recent reporting period.

Other hedge funds 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 valued at $31,000 after acquiring an additional 811 shares in the last quarter. Creekmur Asset Management LLC purchased a new stake in Pfizer during the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC boosted its position 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 valued at $33,000 after buying an additional 600 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in shares of Pfizer by 52,350.0% during the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Pfizer during the fourth quarter worth about $36,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.54.

Pfizer Stock Performance

Shares of PFE traded up $0.63 during midday trading on Wednesday, hitting $28.35. 26,854,933 shares of the stock traded hands, compared to its average volume of 40,019,313. The business’s 50 day moving average price is $28.18 and its two-hundred day moving average price is $27.71. The firm has a market capitalization of $160.65 billion, a PE ratio of -469.59, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $37.80.

Pfizer (NYSE:PFE) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the business posted $1.23 EPS. Pfizer’s revenue was down 19.5% on a year-over-year basis. Equities research analysts predict that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.93%. The ex-dividend date is Thursday, July 25th. Pfizer’s payout ratio is currently -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.