US Asset Management LLC Makes New Investment in Pfizer Inc. (NYSE:PFE)

US Asset Management LLC bought a new stake in shares of Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,997 shares of the biopharmaceutical company’s stock, valued at approximately $403,000.

Several other hedge funds also recently modified their holdings of PFE. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Pfizer by 8.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,333,181 shares of the biopharmaceutical company’s stock valued at $44,222,000 after acquiring an additional 109,087 shares during the last quarter. Rockland Trust Co. raised its stake in shares of Pfizer by 1.9% in the third quarter. Rockland Trust Co. now owns 332,672 shares of the biopharmaceutical company’s stock worth $11,035,000 after buying an additional 6,057 shares during the period. Absher Wealth Management LLC raised its stake in Pfizer by 15.4% during the 3rd quarter. Absher Wealth Management LLC now owns 6,837 shares of the biopharmaceutical company’s stock worth $227,000 after acquiring an additional 912 shares during the period. Steph & Co. lifted its position in shares of Pfizer by 31.6% in the third quarter. Steph & Co. now owns 11,681 shares of the biopharmaceutical company’s stock valued at $387,000 after acquiring an additional 2,805 shares in the last quarter. Finally, Western Pacific Wealth Management LP boosted its position in shares of Pfizer by 39.0% during the third quarter. Western Pacific Wealth Management LP now owns 2,996 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring an additional 840 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of PFE traded down $0.22 during mid-day trading on Friday, hitting $27.96. 14,800,038 shares of the company’s stock were exchanged, compared to its average volume of 43,262,449. The firm has a market capitalization of $158.32 billion, a P/E ratio of -466.26, a P/E/G ratio of 1.17 and a beta of 0.63. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $40.37. The business’s 50 day moving average is $26.97 and its two-hundred day moving average is $28.12. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. Pfizer’s revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. On average, equities analysts expect that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.01%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Guggenheim initiated coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective for the company. Morgan Stanley lifted their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, April 15th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.00.

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.