Adage Capital Partners GP L.L.C. Raises Holdings in Pfizer Inc. (NYSE:PFE)

Adage Capital Partners GP L.L.C. raised its position in Pfizer Inc. (NYSE:PFE - Free Report) by 43.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,382,383 shares of the biopharmaceutical company's stock after purchasing an additional 722,047 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Pfizer were worth $63,205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Passumpsic Savings Bank lifted its stake in Pfizer by 8.4% in the 3rd quarter. Passumpsic Savings Bank now owns 25,680 shares of the biopharmaceutical company's stock worth $743,000 after purchasing an additional 1,998 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Pfizer in the third quarter valued at approximately $1,499,000. Westside Investment Management Inc. lifted its position in Pfizer by 7.7% during the third quarter. Westside Investment Management Inc. now owns 14,008 shares of the biopharmaceutical company's stock worth $404,000 after buying an additional 1,004 shares in the last quarter. Diamant Asset Management Inc. boosted its stake in Pfizer by 8.4% during the third quarter. Diamant Asset Management Inc. now owns 8,515 shares of the biopharmaceutical company's stock worth $246,000 after buying an additional 660 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in Pfizer in the 3rd quarter valued at $2,649,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research report on Tuesday. They set a "neutral" rating and a $24.00 price target on the stock. Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Citigroup reissued a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. UBS Group reduced their price target on shares of Pfizer from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $25.00 price objective (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.57.

Pfizer Stock Down 0.7 %

Shares of NYSE:PFE opened at $22.38 on Thursday. The firm's 50-day moving average is $24.69 and its two-hundred day moving average is $26.06. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54. The firm has a market capitalization of $126.93 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm's quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. Analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.69%. Pfizer's payout ratio is 121.99%.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, the director now owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

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.

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