Cornerstone Wealth Management LLC Boosts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Cornerstone Wealth Management LLC lifted its stake in Pfizer Inc. (NYSE:PFE) by 19.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,545 shares of the biopharmaceutical company’s stock after purchasing an additional 10,314 shares during the period. Cornerstone Wealth Management LLC’s holdings in Pfizer were worth $1,763,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Pfizer during the 4th quarter worth about $2,129,927,000. Wellington Management Group LLP raised its position in shares of Pfizer by 4.9% during the 4th 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. boosted its holdings 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 valued at $2,985,783,000 after purchasing an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake 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 valued at $1,972,300,000 after purchasing an additional 8,298,920 shares during the last quarter. Finally, Ruffer LLP raised its holdings in Pfizer by 248.7% during the fourth quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after purchasing an additional 4,133,786 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

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

Pfizer Stock Down 0.5 %

PFE opened at $27.70 on Friday. The firm has a market cap of $156.96 billion, a P/E ratio of -461.59, a PEG ratio of 1.09 and a beta of 0.69. 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 business’s fifty day simple moving average is $27.99 and its 200 day simple moving average is $27.71. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $37.80.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 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 negative net margin of 0.56% and a positive return on equity of 8.64%. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s dividend payout ratio (DPR) 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.