OLD National Bancorp IN Acquires 31,344 Shares of Pfizer Inc. (NYSE:PFE)

OLD National Bancorp IN lifted its position in Pfizer Inc. (NYSE:PFE) by 10.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 330,736 shares of the biopharmaceutical company’s stock after purchasing an additional 31,344 shares during the period. OLD National Bancorp IN’s holdings in Pfizer were worth $8,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PFE. Rialto Wealth Management LLC bought a new position in shares of Pfizer in the fourth quarter worth approximately $26,000. Clarity Asset Management Inc. purchased a new position in Pfizer during the fourth quarter valued at $27,000. Gould Capital LLC lifted its position in Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 493 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Pfizer in the 4th quarter worth about $28,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Pfizer in the 4th quarter worth about $30,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 1.0%

NYSE PFE opened at $23.36 on Friday. The stock has a 50 day moving average price of $22.95 and a 200-day moving average price of $25.00. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The company has a market capitalization of $132.81 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.64 and a beta of 0.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

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

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 7.36%. Pfizer’s payout ratio is 124.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Guggenheim restated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $25.00 target price (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 target price for the company. Finally, UBS Group upped their price target on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $29.17.

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.