Rockport Wealth LLC Takes $294,000 Position in Pfizer Inc. (NYSE:PFE)

Rockport Wealth LLC purchased a new stake in shares of Pfizer Inc. (NYSE:PFE) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 10,589 shares of the biopharmaceutical company’s stock, valued at approximately $294,000.

A number of other hedge funds have also recently made changes to their positions in PFE. Creekmur Asset Management LLC purchased a new position in shares of Pfizer during the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC grew its position in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Pfizer in the fourth quarter worth $36,000. DiNuzzo Private Wealth Inc. purchased a new position in Pfizer in the fourth quarter worth $37,000. Finally, ESL Trust Services LLC purchased a new position in Pfizer in the first quarter worth $37,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFE has been the subject of several research reports. Morgan Stanley upped their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Barclays upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $34.50.

Pfizer Trading Down 0.3 %

Shares of NYSE:PFE traded down $0.10 during midday trading on Tuesday, hitting $29.50. 21,349,101 shares of the stock traded hands, compared to its average volume of 39,782,043. The stock has a market capitalization of $167.16 billion, a PE ratio of -491.08, a P/E/G ratio of 1.17 and a beta of 0.69. The business’s 50 day moving average is $28.43 and its two-hundred day moving average is $27.73. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a one year low of $25.20 and a one year high of $37.80.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 earnings per share. As a group, research analysts forecast that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s 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.