Global Assets Advisory LLC Takes $725,000 Position in Pfizer Inc. (NYSE:PFE)

Global Assets Advisory LLC bought a new position in Pfizer Inc. (NYSE:PFE) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 26,112 shares of the biopharmaceutical company’s stock, valued at approximately $725,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Norges Bank purchased a new position in Pfizer in the fourth quarter worth $2,129,927,000. Wellington Management Group LLP grew its position in Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after acquiring an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after acquiring an additional 8,298,920 shares in the last quarter. Finally, Ruffer LLP grew its position in Pfizer by 248.7% in the fourth quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after acquiring an additional 4,133,786 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PFE. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley boosted their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.86.

Pfizer Price Performance

PFE stock opened at $27.42 on Thursday. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $37.80. The firm has a 50-day moving average of $27.77 and a 200 day moving average of $27.69. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. Pfizer’s revenue was down 19.5% on a year-over-year basis. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.13%. Pfizer’s dividend payout ratio is -2,799.53%.

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.