Cove Private Wealth LLC Makes New Investment in Pfizer Inc. (NYSE:PFE)

Cove Private Wealth LLC purchased a new stake in shares of Pfizer Inc. (NYSE:PFE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,630 shares of the biopharmaceutical company’s stock, valued at approximately $335,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. GoalVest Advisory LLC increased its holdings in shares of Pfizer by 304.9% during the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 811 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in Pfizer during the fourth quarter valued at approximately $32,000. VisionPoint Advisory Group LLC raised its position in shares of Pfizer by 52,350.0% in the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 1,047 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Pfizer in the fourth quarter worth $36,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Pfizer during the 4th quarter worth $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PFE shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday. Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Guggenheim initiated coverage on Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Argus lowered Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.86.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.99 on Tuesday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $39.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The company’s fifty day moving average price is $27.57 and its two-hundred day moving average price is $27.74.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The business had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the business earned $1.23 EPS. The firm’s revenue was down 19.5% on a year-over-year basis. Analysts anticipate that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.68 annualized dividend and a dividend yield of 6.22%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Pfizer 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.