Private Management Group Inc. Boosts Holdings in Pfizer Inc. (NYSE:PFE)

Private Management Group Inc. grew its position in shares of Pfizer Inc. (NYSE:PFE) by 270.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,579 shares of the biopharmaceutical company’s stock after purchasing an additional 19,409 shares during the period. Private Management Group Inc.’s holdings in Pfizer were worth $738,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PFE. State Board of Administration of Florida Retirement System raised its holdings in shares of Pfizer by 4.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 6,390,840 shares of the biopharmaceutical company’s stock valued at $177,346,000 after acquiring an additional 259,480 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in Pfizer by 21.8% during the first quarter. Eagle Bay Advisors LLC now owns 7,193 shares of the biopharmaceutical company’s stock valued at $200,000 after purchasing an additional 1,287 shares during the last quarter. Dearborn Partners LLC grew its stake in Pfizer by 18.4% in the 1st quarter. Dearborn Partners LLC now owns 32,683 shares of the biopharmaceutical company’s stock worth $907,000 after buying an additional 5,077 shares in the last quarter. WP Advisors LLC raised its position in shares of Pfizer by 53.9% during the 1st quarter. WP Advisors LLC now owns 65,241 shares of the biopharmaceutical company’s stock valued at $1,810,000 after buying an additional 22,844 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Pfizer by 20.5% during the 1st quarter. Koshinski Asset Management Inc. now owns 24,265 shares of the biopharmaceutical company’s stock worth $673,000 after acquiring an additional 4,130 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, July 10th. 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. Barclays raised their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.50.

Pfizer Trading Down 1.1 %

Shares of NYSE PFE traded down $0.32 during midday trading on Thursday, hitting $29.71. 45,263,355 shares of the company traded hands, compared to its average volume of 39,924,250. 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 12-month low of $25.20 and a 12-month high of $37.80. The stock has a 50-day moving average price of $28.34 and a 200 day moving average price of $27.73. The firm has a market cap of $168.35 billion, a P/E ratio of -510.75, a P/E/G ratio of 1.15 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 the consensus estimate 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 firm had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The business’s revenue was down 19.5% compared to the same quarter last year. As a group, analysts expect that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors 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 5.65%. The ex-dividend date of this dividend is Friday, July 26th. 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.