Fifth Third Wealth Advisors LLC Purchases 11,269 Shares of Pfizer Inc. (NYSE:PFE)

Fifth Third Wealth Advisors LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 42.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,510 shares of the biopharmaceutical company’s stock after buying an additional 11,269 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Pfizer were worth $1,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clifford Swan Investment Counsel LLC boosted its stake in Pfizer by 4.7% during the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after purchasing an additional 18,611 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Pfizer by 40.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after purchasing an additional 1,365,295 shares during the last quarter. LifePlan Financial LLC purchased a new stake in Pfizer during the 4th quarter valued at $255,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Pfizer during the 4th quarter valued at $16,166,000. Finally, KLCM Advisors Inc. boosted its stake in Pfizer by 75.0% during the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after purchasing an additional 74,487 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE:PFE traded up $0.18 on Friday, reaching $27.98. 30,653,604 shares of the company’s stock traded hands, compared to its average volume of 40,888,477. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $27.81 and a 200-day simple moving average of $27.69. The firm has a market cap of $158.55 billion, a PE ratio of -467.09, a P/E/G ratio of 1.08 and a beta of 0.70. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.80.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating 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 business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the firm earned $1.23 earnings per share. The business’s quarterly revenue was down 19.5% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 6.00%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Wall Street Analysts Forecast Growth

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

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.