Pfizer Inc. (NYSE:PFE) Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC boosted its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 673.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,413 shares of the biopharmaceutical company's stock after buying an additional 93,533 shares during the quarter. Convergence Investment Partners LLC's holdings in Pfizer were worth $2,850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Retirement Wealth Solutions LLC acquired a new position in Pfizer during the 4th quarter worth $26,000. Gladius Capital Management LP boosted its stake in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 38,015 shares during the period. Sierra Ocean LLC acquired a new position in shares of Pfizer during the fourth quarter worth about $34,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Pfizer during the third quarter worth approximately $35,000. Finally, Joseph Group Capital Management raised its holdings in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PFE shares. Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They set an "underperform" rating and a $25.00 price target for the company. StockNews.com lowered Pfizer from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th. UBS Group decreased their price target on Pfizer from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Guggenheim reiterated a "buy" rating and issued a $33.00 price objective on shares of Pfizer in a report on Monday, February 10th. Finally, Evercore ISI upgraded Pfizer to a "strong-buy" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.92.

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares of the company's stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Pfizer Stock Performance

NYSE:PFE traded up $0.42 during trading hours on Friday, reaching $26.32. 54,560,140 shares of the company's stock were exchanged, compared to its average volume of 38,524,395. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $149.14 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The company has a 50-day moving average of $26.28 and a 200 day moving average of $27.44.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly 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 firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business's revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. Research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.54%. Pfizer's dividend payout ratio (DPR) is currently 121.99%.

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.