Exchange Capital Management Inc. Buys 500 Shares of Pfizer Inc. (NYSE:PFE)

Exchange Capital Management Inc. grew its stake in Pfizer Inc. (NYSE:PFE) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,048 shares of the biopharmaceutical company’s stock after buying an additional 500 shares during the period. Exchange Capital Management Inc.’s holdings in Pfizer were worth $973,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Teza Capital Management LLC purchased a new stake in Pfizer in the third quarter worth approximately $347,000. Hodges Capital Management Inc. purchased a new stake in shares of Pfizer in the 3rd quarter valued at $203,000. Axxcess Wealth Management LLC grew its holdings in shares of Pfizer by 178.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 181,425 shares of the biopharmaceutical company’s stock valued at $6,018,000 after purchasing an additional 116,243 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Pfizer by 40.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock worth $157,215,000 after purchasing an additional 1,365,295 shares during the last quarter. Finally, Ellerson Group Inc. ADV grew its stake in shares of Pfizer by 28.3% during the third quarter. Ellerson Group Inc. ADV now owns 14,310 shares of the biopharmaceutical company’s stock valued at $475,000 after buying an additional 3,160 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE opened at $27.83 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The firm’s 50-day simple moving average is $27.93 and its two-hundred day simple moving average is $27.70. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.80. The stock has a market cap of $157.70 billion, a PE ratio of -463.76, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69.

Pfizer (NYSE:PFE) last issued its quarterly 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 positive return on equity of 8.64% and a negative net margin of 0.56%. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the company earned $1.23 earnings per share. The company’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 fiscal year.

Pfizer Dividend Announcement

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 issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date is Thursday, July 25th. Pfizer’s payout ratio is -2,799.53%.

Wall Street Analysts Forecast Growth

PFE has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, June 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Morgan Stanley raised their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Pfizer has a consensus rating of “Hold” and an average target price of $35.54.

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.