Pfizer Inc. (NYSE:PFE) Shares Purchased by Eagle Ridge Investment Management

Eagle Ridge Investment Management boosted its position in shares of Pfizer Inc. (NYSE:PFE) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,807 shares of the biopharmaceutical company’s stock after buying an additional 1,151 shares during the quarter. Eagle Ridge Investment Management’s holdings in Pfizer were worth $494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFE. Teza Capital Management LLC purchased a new stake in shares of Pfizer in the third quarter valued at approximately $347,000. Hodges Capital Management Inc. acquired a new position in Pfizer during the third quarter worth $203,000. Truist Financial Corp lifted its holdings in Pfizer by 1.9% during the third quarter. Truist Financial Corp now owns 3,994,764 shares of the biopharmaceutical company’s stock valued at $132,506,000 after purchasing an additional 74,746 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Pfizer by 2.8% in the third quarter. Advisors Asset Management Inc. now owns 564,577 shares of the biopharmaceutical company’s stock valued at $18,727,000 after purchasing an additional 15,507 shares during the period. Finally, Axxcess Wealth Management LLC increased its stake in shares of Pfizer by 178.3% during the third quarter. Axxcess Wealth Management LLC now owns 181,425 shares of the biopharmaceutical company’s stock worth $6,018,000 after purchasing an additional 116,243 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PFE. Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, June 26th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.54.

Pfizer Trading Down 1.4 %

Shares of PFE stock traded down $0.39 on Tuesday, hitting $27.83. 21,710,519 shares of the stock traded hands, compared to its average volume of 40,642,027. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $37.80. The firm’s 50-day moving average price is $27.93 and its two-hundred day moving average price is $27.70. The stock has a market capitalization of $157.70 billion, a PE ratio of -464.76, a PEG ratio of 1.10 and a beta of 0.69.

Pfizer (NYSE:PFE) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share 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 analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. Pfizer’s revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. As a group, analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 6.04%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

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.