Rockport Wealth LLC Acquires Shares of 10,589 Pfizer Inc. (NYSE:PFE)

Rockport Wealth LLC acquired a new stake in Pfizer Inc. (NYSE:PFE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,589 shares of the biopharmaceutical company’s stock, valued at approximately $294,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Pfizer in the 4th quarter worth approximately $2,129,927,000. Wellington Management Group LLP lifted its position in shares of Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of 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 during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Pfizer by 13.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after purchasing an additional 8,298,920 shares during the period. Finally, Pzena Investment Management LLC lifted its position in shares of Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFE has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, July 10th. Barclays increased their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Finally, Morgan Stanley increased their target price 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. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.50.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.10 during midday trading on Tuesday, reaching $29.50. The company had a trading volume of 21,349,101 shares, compared to its average volume of 39,782,043. The business’s 50-day simple moving average is $28.43 and its 200 day simple moving average is $27.73. The stock has a market cap of $167.16 billion, a P/E ratio of -491.08, a P/E/G ratio of 1.17 and a beta of 0.69. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $37.80. 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 (NYSE:PFE) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The business’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the company posted $1.23 earnings per share. On average, analysts forecast that Pfizer Inc. will post 2.39 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.69%. 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.