Commerce Bank Buys 114,342 Shares of Pfizer Inc. (NYSE:PFE)

Commerce Bank lifted its stake in Pfizer Inc. (NYSE:PFE) by 4.8% during the fourth quarter, HoldingsChannel reports. The firm owned 2,503,870 shares of the biopharmaceutical company’s stock after purchasing an additional 114,342 shares during the period. Commerce Bank’s holdings in Pfizer were worth $72,086,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new position in shares of Pfizer in the third quarter worth about $30,000. VisionPoint Advisory Group LLC lifted its stake in Pfizer by 52,350.0% in the third 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 period. GoalVest Advisory LLC lifted its stake in Pfizer by 304.9% in the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 811 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Pfizer in the fourth quarter worth about $36,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in Pfizer in the fourth quarter worth about $37,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Down 2.6 %

Shares of PFE traded down $0.78 during mid-day trading on Thursday, hitting $28.82. 31,726,440 shares of the company traded hands, compared to its average volume of 42,449,258. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $40.37. 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 company has a market capitalization of $163.31 billion, a PE ratio of -480.75, a price-to-earnings-growth ratio of 1.11 and a beta of 0.63. The business has a 50 day moving average of $27.24 and a 200 day moving average of $27.97.

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 the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. Equities research analysts anticipate that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 5.83%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Analyst Ratings Changes

A number of analysts recently weighed in on PFE shares. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. BMO Capital Markets reaffirmed 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. Guggenheim assumed coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Ten 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, the company has a consensus rating of “Hold” and an average 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.