Asset Dedication LLC Increases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Asset Dedication LLC grew its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 107.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,833 shares of the biopharmaceutical company's stock after buying an additional 13,896 shares during the period. Asset Dedication LLC's holdings in Pfizer were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC increased its position in Pfizer by 1.6% in the second quarter. AQR Capital Management LLC now owns 612,429 shares of the biopharmaceutical company's stock worth $17,068,000 after purchasing an additional 9,435 shares during the last quarter. Quarry LP bought a new position in Pfizer during the second quarter valued at $31,000. Dana Investment Advisors Inc. increased its position in Pfizer by 9.6% during the second quarter. Dana Investment Advisors Inc. now owns 100,181 shares of the biopharmaceutical company's stock valued at $2,803,000 after acquiring an additional 8,771 shares during the last quarter. Souders Financial Advisors increased its position in Pfizer by 6.1% during the second quarter. Souders Financial Advisors now owns 8,347 shares of the biopharmaceutical company's stock valued at $234,000 after acquiring an additional 483 shares during the last quarter. Finally, Birmingham Capital Management Co. Inc. AL increased its position in Pfizer by 0.9% during the second quarter. Birmingham Capital Management Co. Inc. AL now owns 181,763 shares of the biopharmaceutical company's stock valued at $5,086,000 after acquiring an additional 1,559 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

Pfizer stock traded up $0.27 during mid-day trading on Thursday, hitting $26.89. The company had a trading volume of 32,270,209 shares, compared to its average volume of 35,838,855. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The company's fifty day moving average is $26.22 and its 200-day moving average is $27.90. The company has a market capitalization of $152.41 billion, a price-to-earnings ratio of 36.34, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the prior year, the firm posted ($0.17) EPS. The business's quarterly revenue was up 31.2% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer's previous quarterly dividend of $0.42. Pfizer's dividend payout ratio is currently 227.03%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup cut their price objective on shares of Pfizer from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Tuesday. Bank of America reissued a "neutral" rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Evercore ISI raised shares of Pfizer to a "strong-buy" rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Pfizer from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a "market perform" rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Pfizer currently has an average rating of "Moderate Buy" and a consensus price target of $31.92.

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.