Naviter Wealth LLC Grows Holdings in Pfizer Inc. (NYSE:PFE)

Naviter Wealth LLC boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 80.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,987 shares of the biopharmaceutical company’s stock after acquiring an additional 17,430 shares during the period. Naviter Wealth LLC’s holdings in Pfizer were worth $1,082,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP raised its stake in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after purchasing an additional 8,473,686 shares in the last quarter. Morgan Stanley grew its position in Pfizer by 0.4% during the 3rd quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after purchasing an additional 348,628 shares during the last quarter. Norges Bank bought a new stake in Pfizer during the 4th quarter valued at about $2,129,927,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after buying an additional 8,298,920 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, June 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Pfizer has an average rating of “Hold” and a consensus price target of $35.54.

Pfizer Stock Down 1.4 %

Shares of PFE stock opened at $27.83 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.80. The stock has a market cap of $157.70 billion, a P/E ratio of -463.76, a P/E/G ratio of 1.10 and a beta of 0.69. The company has a 50 day simple moving average of $27.93 and a two-hundred day simple moving average of $27.70.

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

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.04%. Pfizer’s payout ratio is currently -2,799.53%.

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.