Portside Wealth Group LLC Acquires 14,661 Shares of Pfizer Inc. (NYSE:PFE)

Portside Wealth Group LLC boosted its stake in Pfizer Inc. (NYSE:PFE) by 27.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,833 shares of the biopharmaceutical company’s stock after purchasing an additional 14,661 shares during the quarter. Portside Wealth Group LLC’s holdings in Pfizer were worth $1,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Tallon Kerry Patrick bought a new stake in Pfizer in the fourth quarter valued at approximately $509,000. Brighton Jones LLC boosted its holdings 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 purchasing an additional 618,117 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Pfizer by 12.5% during the 4th 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 in the last quarter. Silver Oak Securities Incorporated boosted its holdings in shares of Pfizer by 13.7% during the 4th quarter. Silver Oak Securities Incorporated now owns 15,886 shares of the biopharmaceutical company’s stock valued at $420,000 after acquiring an additional 1,919 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Pfizer during the 4th quarter worth $2,281,000. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PFE shares. Cantor Fitzgerald started coverage on Pfizer in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price objective for the company. Guggenheim reissued a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. UBS Group upped their price target on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Finally, Citigroup restated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. One research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.17.

Pfizer Trading Up 1.0%

NYSE:PFE opened at $23.36 on Monday. 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. The company has a market cap 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 stock’s fifty day moving average price is $22.95 and its two-hundred day moving average price is $25.00.

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

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be paid 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 7.36%. Pfizer’s dividend payout ratio (DPR) is currently 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.