Pfizer Inc. (NYSE:PFE) Shares Acquired by Capital Research Global Investors

Capital Research Global Investors lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,507,603 shares of the biopharmaceutical company’s stock after purchasing an additional 1,738 shares during the quarter. Capital Research Global Investors’ holdings in Pfizer were worth $41,836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PFE. Creekmur Asset Management LLC bought a new position in Pfizer in the 4th quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC grew its holdings 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 worth $33,000 after buying an additional 600 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in Pfizer in the 4th quarter worth approximately $36,000. DiNuzzo Private Wealth Inc. bought a new position in Pfizer in the 4th quarter worth approximately $37,000. Finally, ESL Trust Services LLC bought a new position in Pfizer in the 1st quarter worth approximately $37,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Up 3.3 %

Shares of PFE traded up $1.00 during mid-day trading on Friday, reaching $30.77. The company’s stock had a trading volume of 35,657,080 shares, compared to its average volume of 30,301,530. The business has a fifty day moving average of $28.54 and a 200 day moving average of $27.77. The company has a market cap of $174.36 billion, a price-to-earnings ratio of -512.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.69. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $37.19. 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 (NYSE:PFE) last released 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. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 earnings per share. As a group, analysts forecast that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.46%. Pfizer’s dividend payout ratio is -2,799.53%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PFE shares. Barclays increased their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, July 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Morgan Stanley increased their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.50.

Pfizer 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.