Cascade Investment Advisors Inc. Buys 2,425 Shares of Pfizer Inc. (NYSE:PFE)

Cascade Investment Advisors Inc. raised its stake in Pfizer Inc. (NYSE:PFEFree Report) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,959 shares of the biopharmaceutical company’s stock after acquiring an additional 2,425 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Pfizer were worth $1,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $2,985,783,000 after buying an additional 8,473,686 shares during the last quarter. Morgan Stanley raised its holdings in Pfizer by 0.4% in the 3rd quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after buying an additional 348,628 shares during the last quarter. Norges Bank bought a new position in Pfizer in the 4th quarter valued at approximately $2,129,927,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $1,972,300,000 after buying an additional 8,298,920 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 3.0 %

Shares of PFE stock traded down $0.90 during trading hours on Thursday, hitting $28.70. 41,998,922 shares of the company were exchanged, compared to its average volume of 42,563,102. The firm has a market cap of $162.63 billion, a P/E ratio of -478.25, a P/E/G ratio of 1.11 and a beta of 0.63. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $40.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The company has a 50 day simple moving average of $27.26 and a two-hundred day simple moving average of $27.98.

Pfizer (NYSE:PFEGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The business had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the firm posted $1.23 EPS. Pfizer’s revenue was down 19.5% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.85%. The ex-dividend date is Thursday, May 9th. Pfizer’s payout ratio is currently -2,799.53%.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of research reports. Guggenheim initiated coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, April 15th. Morgan Stanley raised their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, 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. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Pfizer currently has an average rating of “Hold” and an average target price of $35.86.

Read Our Latest Analysis on PFE

About Pfizer

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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