Fred Alger Management LLC Increases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Fred Alger Management LLC raised its position in Pfizer Inc. (NYSE:PFE) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,411 shares of the biopharmaceutical company’s stock after buying an additional 13,743 shares during the period. Fred Alger Management LLC’s holdings in Pfizer were worth $3,088,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Pfizer during the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Pfizer during the fourth quarter worth approximately $26,000. Clarity Asset Management Inc. acquired a new stake in Pfizer in the fourth quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Pfizer during the 4th quarter valued at $28,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Pfizer during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Pfizer Price Performance

NYSE PFE opened at $22.28 on Friday. The company has a 50 day simple moving average of $24.02 and a 200-day simple moving average of $25.56. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The firm has a market capitalization of $126.36 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. Equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.72%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer’s payout ratio is currently 124.64%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PFE shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Citigroup restated a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. UBS Group lifted their target price on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Finally, Guggenheim reiterated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $29.17.

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.