Thrive Wealth Management LLC Boosts Stake in Pfizer Inc. (NYSE:PFE)

Thrive Wealth Management LLC boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 12.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,292 shares of the biopharmaceutical company’s stock after buying an additional 5,021 shares during the quarter. Thrive Wealth Management LLC’s holdings in Pfizer were worth $1,148,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Tallon Kerry Patrick acquired a new stake in shares of Pfizer during the 4th quarter worth about $509,000. Brighton Jones LLC grew its position in shares of Pfizer by 1,282.4% in the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock valued at $17,677,000 after buying an additional 618,117 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Pfizer by 12.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock valued at $498,000 after acquiring an additional 2,087 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in Pfizer by 5.6% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 12,571 shares of the biopharmaceutical company’s stock valued at $334,000 after acquiring an additional 669 shares in the last quarter. Finally, Old North State Wealth Management LLC grew its holdings in shares of Pfizer by 23.6% during the fourth quarter. Old North State Wealth Management LLC now owns 79,441 shares of the biopharmaceutical company’s stock worth $2,109,000 after purchasing an additional 15,194 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on PFE shares. Guggenheim reissued a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a report on Monday, March 10th. The Goldman Sachs Group restated a “neutral” rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price target for the company. Finally, Citigroup reissued a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Up 0.3%

Pfizer stock opened at $23.42 on Thursday. The stock’s 50 day moving average price is $23.02 and its 200 day moving average price is $25.02. The company has a market cap of $133.15 billion, a PE ratio of 16.61, 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 Inc. has a 1-year low of $20.92 and a 1-year high of $31.54.

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

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.34%. Pfizer’s payout ratio is 124.64%.

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.