Pfizer Inc. (NYSE:PFE) Stake Increased by Shorepoint Capital Partners LLC

Shorepoint Capital Partners LLC raised its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 44.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,156 shares of the biopharmaceutical company's stock after acquiring an additional 29,511 shares during the quarter. Shorepoint Capital Partners LLC's holdings in Pfizer were worth $2,551,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PFE. Norges Bank acquired a new position in shares of Pfizer in the 4th quarter worth approximately $2,328,986,000. Charles Schwab Investment Management Inc. lifted its stake in Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Pfizer in the fourth quarter worth $274,694,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after purchasing an additional 5,350,381 shares during the period. Finally, APG Asset Management N.V. lifted its position in shares of Pfizer by 1,106.0% in the 4th quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock worth $143,967,000 after buying an additional 5,153,257 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the acquisition, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PFE shares. The Goldman Sachs Group restated a "neutral" rating and issued a $25.00 target price (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Cantor Fitzgerald assumed coverage on Pfizer in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price on the stock. Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. Finally, UBS Group decreased their target price on shares of Pfizer from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.57.

Pfizer Trading Up 0.7 %

Shares of PFE opened at $22.95 on Friday. The stock's fifty day simple moving average is $24.58 and its 200-day simple moving average is $25.94. 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 $130.16 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54.

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

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 annualized dividend and a dividend yield of 7.49%. Pfizer's dividend payout ratio is currently 121.99%.

Pfizer 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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