ProVise Management Group LLC Has $2.89 Million Stock Position in Pfizer Inc. (NYSE:PFE)

ProVise Management Group LLC boosted its holdings in Pfizer Inc. (NYSE:PFE) by 6.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 114,157 shares of the biopharmaceutical company’s stock after acquiring an additional 7,327 shares during the quarter. ProVise Management Group LLC’s holdings in Pfizer were worth $2,893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PFE. Clarity Asset Management Inc. bought a new stake in shares of Pfizer during the 4th quarter valued at approximately $27,000. Gould Capital LLC boosted its position in Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 493 shares in the last quarter. North Capital Inc. bought a new stake in shares of Pfizer during the first quarter worth $28,000. Bayforest Capital Ltd bought a new stake in shares of Pfizer during the first quarter worth $28,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Pfizer during the fourth quarter worth $30,000. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Pfizer from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Citigroup increased their target price on Pfizer from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Berenberg Bank reduced their price target on Pfizer from $28.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, May 29th. Wolfe Research upped their price objective on Pfizer from $22.00 to $23.00 and gave the company an “underperform” rating in a research note on Wednesday, April 30th. Finally, TD Cowen dropped their price objective on shares of Pfizer from $32.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.28.

Pfizer Stock Performance

Shares of PFE opened at $23.27 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $24.36 and its two-hundred day simple moving average is $24.60. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.32. The stock has a market capitalization of $132.30 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

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 issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Friday, July 25th. Pfizer’s dividend payout ratio is presently 124.64%.

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.