Blume Capital Management Inc. Buys 23,000 Shares of Pfizer Inc. (NYSE:PFE)

Blume Capital Management Inc. increased its position in shares of Pfizer Inc. (NYSE:PFE) by 87.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,225 shares of the biopharmaceutical company’s stock after buying an additional 23,000 shares during the quarter. Blume Capital Management Inc.’s holdings in Pfizer were worth $1,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Briaud Financial Planning Inc bought a new stake in Pfizer during the 3rd quarter worth approximately $30,000. GoalVest Advisory LLC raised its position in Pfizer by 304.9% in the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 811 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in Pfizer during the 3rd quarter valued at $34,000. VisionPoint Advisory Group LLC boosted its holdings in Pfizer by 52,350.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 1,047 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Pfizer in the 4th quarter worth $36,000. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Guggenheim initiated coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Hold” and a consensus target price of $36.00.

Pfizer Price Performance

Shares of Pfizer stock traded down $0.02 during trading on Thursday, hitting $27.83. 13,623,268 shares of the stock traded hands, compared to its average volume of 43,192,000. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $40.37. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The firm’s fifty day moving average is $26.92 and its 200-day moving average is $28.12. The stock has a market cap of $157.59 billion, a price-to-earnings ratio of -461.26, a PEG ratio of 1.17 and a beta of 0.63.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm had revenue of $14.88 billion for 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 company’s revenue for the quarter was down 19.5% compared to the same quarter last year. Research analysts expect that Pfizer Inc. will post 2.39 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s payout ratio is currently -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.