Congress Park Capital LLC Acquires 2,000 Shares of Pfizer Inc. (NYSE:PFE)

Congress Park Capital LLC lifted its holdings in Pfizer Inc. (NYSE:PFE) by 10.2% in the first quarter, HoldingsChannel.com reports. The fund owned 21,640 shares of the biopharmaceutical company’s stock after buying an additional 2,000 shares during the quarter. Congress Park Capital LLC’s holdings in Pfizer were worth $601,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Clifford Swan Investment Counsel LLC lifted its position in shares of Pfizer by 4.7% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock worth $12,007,000 after buying an additional 18,611 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Pfizer by 40.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock worth $157,215,000 after purchasing an additional 1,365,295 shares in the last quarter. LifePlan Financial LLC bought a new position in Pfizer in the fourth quarter worth approximately $255,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in Pfizer in the fourth quarter worth approximately $16,166,000. Finally, KLCM Advisors Inc. grew its stake in Pfizer by 75.0% in the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock worth $5,004,000 after purchasing an additional 74,487 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Up 0.6 %

Shares of NYSE PFE traded up $0.18 during mid-day trading on Friday, hitting $27.98. The company had a trading volume of 9,915,618 shares, compared to its average volume of 40,721,234. The company has a market capitalization of $158.55 billion, a PE ratio of -467.09, a price-to-earnings-growth ratio of 1.08 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $37.80. The business’s 50-day simple moving average is $27.81 and its 200 day simple moving average is $27.69.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the company posted $1.23 earnings per share. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. On average, analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.00%. Pfizer’s payout ratio is -2,799.53%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday. Morgan Stanley lifted their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.86.

Pfizer 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.