Cornerstone Wealth Group LLC Raises Holdings in Pfizer Inc. (NYSE:PFE)

Cornerstone Wealth Group LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 72.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,412 shares of the biopharmaceutical company’s stock after purchasing an additional 6,452 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Pfizer were worth $428,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Advisor OS LLC boosted its position in shares of Pfizer by 1.0% during the 4th quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company’s stock worth $1,013,000 after acquiring an additional 365 shares in the last quarter. Safeguard Investment Advisory Group LLC boosted its position in shares of Pfizer by 3.9% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 9,987 shares of the biopharmaceutical company’s stock worth $288,000 after acquiring an additional 371 shares in the last quarter. Lantz Financial LLC boosted its position in shares of Pfizer by 1.3% during the 1st quarter. Lantz Financial LLC now owns 30,582 shares of the biopharmaceutical company’s stock worth $849,000 after acquiring an additional 381 shares in the last quarter. King Wealth Management Group boosted its position in shares of Pfizer by 2.4% during the 4th quarter. King Wealth Management Group now owns 16,686 shares of the biopharmaceutical company’s stock worth $480,000 after acquiring an additional 388 shares in the last quarter. Finally, Advance Capital Management Inc. boosted its position in shares of Pfizer by 4.0% during the 4th quarter. Advance Capital Management Inc. now owns 10,177 shares of the biopharmaceutical company’s stock worth $293,000 after acquiring an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PFE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, June 26th. Morgan Stanley upped their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Pfizer presently has a consensus rating of “Hold” and a consensus target price of $35.54.

Pfizer Stock Performance

Shares of PFE stock opened at $27.98 on Monday. The company has a market cap of $158.55 billion, a price-to-earnings ratio of -466.26, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. The stock has a 50 day simple moving average of $27.90 and a 200-day simple moving average of $27.69. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $37.80. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last issued its 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. The business had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. On average, equities analysts forecast that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.00%. The ex-dividend date is Thursday, July 25th. Pfizer’s payout ratio is currently -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.