Byrne Asset Management LLC Grows Stock Holdings in Pfizer Inc. (NYSE:PFE)

Byrne Asset Management LLC boosted its holdings in Pfizer Inc. (NYSE:PFE) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,600 shares of the biopharmaceutical company’s stock after buying an additional 738 shares during the period. Byrne Asset Management LLC’s holdings in Pfizer were worth $750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PFE. Rialto Wealth Management LLC purchased a new position in shares of Pfizer during the 4th quarter valued at $26,000. Clarity Asset Management Inc. purchased a new position in shares of Pfizer during the 4th quarter valued at $27,000. Gould Capital LLC grew its position in shares of Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 493 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Pfizer during the 4th quarter valued at $28,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Pfizer during the 4th quarter valued at $30,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFE has been the subject of a number of recent analyst reports. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. UBS Group lifted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective for the company. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Performance

Pfizer stock opened at $24.51 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $139.35 billion, a PE ratio of 17.38, a P/E/G ratio of 0.64 and a beta of 0.57. The firm has a fifty day simple moving average of $23.06 and a two-hundred day simple moving average of $24.96. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $13.72 billion for the quarter, compared to analysts’ expectations of $14.43 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. Research analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 9th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date was Friday, May 9th. Pfizer’s payout ratio is 124.64%.

Pfizer Company 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.