Sound Income Strategies LLC Has $20.04 Million Stake in Pfizer Inc. (NYSE:PFE)

Sound Income Strategies LLC raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 3.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 790,953 shares of the biopharmaceutical company’s stock after purchasing an additional 26,131 shares during the period. Pfizer makes up approximately 1.2% of Sound Income Strategies LLC’s portfolio, making the stock its 22nd biggest holding. Sound Income Strategies LLC’s holdings in Pfizer were worth $20,043,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lipe & Dalton boosted its stake in Pfizer by 17.7% during the 4th quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 400 shares during the last quarter. Beam Wealth Advisors Inc. lifted its position in shares of Pfizer by 1.5% during the 4th quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company’s stock worth $728,000 after buying an additional 401 shares in the last quarter. Providence Capital Advisors LLC lifted its position in shares of Pfizer by 0.4% during the 4th quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company’s stock worth $3,034,000 after buying an additional 409 shares in the last quarter. Donaldson Capital Management LLC lifted its position in shares of Pfizer by 1.2% during the 4th quarter. Donaldson Capital Management LLC now owns 35,694 shares of the biopharmaceutical company’s stock worth $947,000 after buying an additional 410 shares in the last quarter. Finally, Noesis Capital Mangement Corp lifted its position in shares of Pfizer by 2.6% during the 4th quarter. Noesis Capital Mangement Corp now owns 16,357 shares of the biopharmaceutical company’s stock worth $434,000 after buying an additional 413 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PFE. Guggenheim reissued a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Citigroup reissued a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price target for the company. Finally, UBS Group boosted their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Performance

Pfizer stock opened at $24.51 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $139.35 billion, a PE ratio of 17.38, a P/E/G ratio of 0.64 and a beta of 0.57. The firm has a fifty day simple moving average of $23.06 and a two-hundred day simple moving average of $24.95. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54.

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

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 9th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.02%. The ex-dividend date was Friday, May 9th. Pfizer’s dividend payout ratio (DPR) 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.