Pfizer Inc. (NYSE:PFE) Shares Purchased by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. raised its holdings in Pfizer Inc. (NYSE:PFE) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,929 shares of the biopharmaceutical company’s stock after buying an additional 1,837 shares during the period. Sovereign Financial Group Inc.’s holdings in Pfizer were worth $470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PFE. Norges Bank acquired a new position in Pfizer in the fourth quarter valued at approximately $2,129,927,000. Wellington Management Group LLP boosted its holdings in shares of Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after buying an additional 8,473,686 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Pfizer by 13.8% during the 4th 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 lifted 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 valued at $166,837,000 after acquiring an additional 4,133,786 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Up 1.4 %

Shares of NYSE:PFE opened at $27.80 on Friday. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.80. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $27.81 and its 200-day simple moving average is $27.69. The company has a market cap of $157.53 billion, a price-to-earnings ratio of -463.26, a PEG ratio of 1.08 and a beta of 0.70.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. As a group, equities research analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.04%. The ex-dividend date is Friday, July 26th. Pfizer’s payout ratio is -2,799.53%.

Wall Street Analysts Forecast Growth

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

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.