Palouse Capital Management Inc. Grows Stock Position in Pfizer Inc. (NYSE:PFE)

Palouse Capital Management Inc. increased its holdings in Pfizer Inc. (NYSE:PFE) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,768 shares of the biopharmaceutical company’s stock after buying an additional 10,816 shares during the period. Pfizer comprises about 2.6% of Palouse Capital Management Inc.’s holdings, making the stock its 12th largest position. Palouse Capital Management Inc.’s holdings in Pfizer were worth $3,744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PFE. IAG Wealth Partners LLC lifted its holdings in Pfizer by 594.7% in the 1st quarter. IAG Wealth Partners LLC now owns 8,989 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 7,695 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in Pfizer by 19.7% in the 1st quarter. Hennessy Advisors Inc. now owns 208,100 shares of the biopharmaceutical company’s stock valued at $5,273,000 after purchasing an additional 34,300 shares in the last quarter. Byrne Asset Management LLC lifted its holdings in Pfizer by 2.6% in the 1st quarter. Byrne Asset Management LLC now owns 29,600 shares of the biopharmaceutical company’s stock valued at $750,000 after purchasing an additional 738 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Pfizer by 55.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,606,123 shares of the biopharmaceutical company’s stock valued at $66,039,000 after purchasing an additional 928,180 shares in the last quarter. Finally, Tritonpoint Wealth LLC lifted its holdings in Pfizer by 14.3% in the 1st quarter. Tritonpoint Wealth LLC now owns 29,534 shares of the biopharmaceutical company’s stock valued at $748,000 after purchasing an additional 3,684 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Down 1.3%

PFE opened at $24.51 on Friday. The firm has a 50 day moving average price of $23.06 and a 200 day moving average price of $24.96. The company has a market cap of $139.35 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. Sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date of this dividend was Friday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

Analyst Ratings Changes

PFE has been the topic of a number of recent research reports. Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. UBS Group upped their target price on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Citigroup reiterated a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Finally, Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.17.

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.