Pfizer Inc. (NYSE:PFE) Shares Acquired by Old North State Wealth Management LLC

Old North State Wealth Management LLC raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,253 shares of the biopharmaceutical company’s stock after purchasing an additional 8,812 shares during the period. Old North State Wealth Management LLC’s holdings in Pfizer were worth $2,237,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PFE. Brighton Jones LLC increased its stake in shares of Pfizer by 1,282.4% in the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock worth $17,677,000 after acquiring an additional 618,117 shares during the period. Revolve Wealth Partners LLC grew its position in Pfizer by 12.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock worth $498,000 after purchasing an additional 2,087 shares during the period. Denali Advisors LLC grew its position in Pfizer by 12.8% during the 4th quarter. Denali Advisors LLC now owns 37,100 shares of the biopharmaceutical company’s stock worth $984,000 after purchasing an additional 4,200 shares during the period. Corrado Advisors LLC grew its holdings in Pfizer by 15.2% during the fourth quarter. Corrado Advisors LLC now owns 70,974 shares of the biopharmaceutical company’s stock worth $1,883,000 after acquiring an additional 9,357 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in Pfizer during the fourth quarter worth about $108,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price target for the company. Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Finally, Citigroup reiterated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Performance

NYSE:PFE opened at $24.30 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a market capitalization of $138.18 billion, a P/E ratio of 17.61, a PEG ratio of 0.88 and a beta of 0.57. The company has a 50 day moving average price of $23.42 and a 200 day moving average price of $24.85. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The company had revenue of $13.72 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period last year, the business posted $0.82 EPS. Pfizer’s revenue for the quarter was down 7.8% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.08%. Pfizer’s dividend payout ratio is presently 124.64%.

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.