Bridgewealth Advisory Group LLC Purchases New Position in Pfizer Inc. (NYSE:PFE)

Bridgewealth Advisory Group LLC purchased a new stake in Pfizer Inc. (NYSE:PFE) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,895 shares of the biopharmaceutical company’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC boosted its holdings in shares of Pfizer by 304.9% in the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 811 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of Pfizer during the fourth quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC raised its stake in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. VisionPoint Advisory Group LLC raised its stake in shares of Pfizer by 52,350.0% during the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Pfizer during the fourth quarter worth approximately $36,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on PFE. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, June 26th. Morgan Stanley increased their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Nine 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 a consensus rating of “Hold” and an average target price of $35.54.

Pfizer Stock Performance

NYSE:PFE traded up $0.24 during midday trading on Monday, reaching $28.22. 24,982,110 shares of the company traded hands, compared to its average volume of 40,791,203. 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 twelve month low of $25.20 and a twelve month high of $37.80. The company has a fifty day moving average price of $27.90 and a 200 day moving average price of $27.69. The firm has a market capitalization of $159.91 billion, a price-to-earnings ratio of -470.25, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. On average, analysts expect that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date is Thursday, July 25th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

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.