MeadowBrook Investment Advisors LLC Acquires New Holdings in Pfizer Inc. (NYSE:PFE)

MeadowBrook Investment Advisors LLC purchased a new position in shares of Pfizer Inc. (NYSE:PFE) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,343 shares of the biopharmaceutical company’s stock, valued at approximately $442,000.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after purchasing an additional 9,393,992 shares during the period. Morgan Stanley lifted its holdings in shares of Pfizer by 0.4% during the 3rd quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock worth $2,817,055,000 after acquiring an additional 348,628 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Pfizer by 9.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock valued at $1,997,083,000 after acquiring an additional 5,185,453 shares during the period. Invesco Ltd. lifted its stake in Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after purchasing an additional 5,678,004 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Pfizer by 0.6% during the third quarter. California Public Employees Retirement System now owns 18,380,833 shares of the biopharmaceutical company’s stock valued at $609,692,000 after purchasing an additional 101,256 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

Pfizer stock traded down $0.01 during mid-day trading on Tuesday, reaching $28.15. 16,106,338 shares of the company’s stock were exchanged, compared to its average volume of 43,017,250. The firm has a market capitalization of $159.40 billion, a PE ratio of -471.42, a P/E/G ratio of 1.17 and a beta of 0.63. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The business’s fifty day simple moving average is $26.90 and its 200 day simple moving average is $28.14. Pfizer Inc. has a one year low of $25.20 and a one year high of $40.37.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The firm’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. On average, sell-side analysts expect that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Wall Street Analyst Weigh In

PFE has been the topic of a number of analyst reports. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Guggenheim initiated coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target on the stock. Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Hold” and a consensus price target of $36.00.

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.