Summit Place Financial Advisors LLC Boosts Stake in Pfizer Inc. (NYSE:PFE)

Summit Place Financial Advisors LLC increased its stake in Pfizer Inc. (NYSE:PFE) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,354 shares of the biopharmaceutical company’s stock after purchasing an additional 630 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Pfizer were worth $237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Pfizer during the 4th quarter valued at approximately $2,328,986,000. Starboard Value LP purchased a new position in Pfizer during the fourth quarter valued at approximately $407,730,000. Raymond James Financial Inc. purchased a new position in Pfizer during the fourth quarter valued at approximately $274,694,000. Assenagon Asset Management S.A. boosted its position in shares of Pfizer by 307.5% in the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock worth $254,574,000 after purchasing an additional 7,581,030 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Pfizer by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock worth $2,029,604,000 after purchasing an additional 5,350,381 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PFE. Citigroup restated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. UBS Group boosted their price objective on Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $25.32 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The company has a market capitalization of $143.95 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 0.91 and a beta of 0.58. The firm’s 50-day moving average is $23.62 and its 200 day moving average is $24.83.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. 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 prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Research analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.79%. The ex-dividend date is Friday, July 25th. Pfizer’s dividend payout ratio (DPR) is presently 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.