Industrial Alliance Investment Management Inc. Buys 751 Shares of Pfizer Inc. (NYSE:PFE)

Industrial Alliance Investment Management Inc. boosted its stake in Pfizer Inc. (NYSE:PFE) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,089 shares of the biopharmaceutical company’s stock after acquiring an additional 751 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Pfizer were worth $530,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new stake in Pfizer in the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC increased its stake in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 600 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Pfizer in the 4th quarter valued at $36,000. DiNuzzo Private Wealth Inc. acquired a new stake in Pfizer in the 4th quarter valued at $37,000. Finally, ESL Trust Services LLC acquired a new stake in Pfizer in the 1st quarter valued at $37,000. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PFE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, July 10th. Barclays lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Morgan Stanley lifted their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets reiterated 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. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $34.50.

Pfizer Stock Performance

NYSE PFE traded up $0.66 during trading on Tuesday, reaching $31.38. The company’s stock had a trading volume of 89,827,372 shares, compared to its average volume of 40,047,242. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $177.82 billion, a price-to-earnings ratio of -520.25, a price-to-earnings-growth ratio of 1.20 and a beta of 0.69. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.19. The firm has a 50 day moving average price of $28.59 and a 200 day moving average price of $27.77.

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

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Friday, July 26th. 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.