Ridgewood Investments LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 37.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,799 shares of the biopharmaceutical company’s stock after purchasing an additional 1,566 shares during the quarter. Ridgewood Investments LLC’s holdings in Pfizer were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lam Group Inc. acquired a new position in shares of Pfizer in the 4th quarter valued at $25,000. Worth Asset Management LLC purchased a new stake in shares of Pfizer during the 1st quarter valued at approximately $29,000. My Personal CFO LLC acquired a new position in shares of Pfizer in the 4th quarter valued at $32,000. Mendota Financial Group LLC purchased a new position in shares of Pfizer during the 4th quarter worth $33,000. Finally, Freedom Wealth Alliance LLC purchased a new stake in Pfizer in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 67.80% of the company’s stock.
Insiders Place Their Bets
In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average price of $38.58 per share, with a total value of $38,580.00. Following the completion of the acquisition, the director now owns 6,000 shares of the company’s stock, valued at approximately $231,480. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.05% of the stock is currently owned by company insiders.
Pfizer Trading Up 0.4 %
Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.23. Pfizer had a return on equity of 37.53% and a net margin of 31.25%. The firm had revenue of $18.28 billion during the quarter, compared to the consensus estimate of $16.49 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The firm’s quarterly revenue was down 28.8% compared to the same quarter last year. Analysts anticipate that Pfizer Inc. will post 3.35 earnings per share for the current year.
Pfizer Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, July 28th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend is Thursday, July 27th. Pfizer’s dividend payout ratio (DPR) is presently 32.28%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Morgan Stanley decreased their price objective on shares of Pfizer from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, April 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pfizer in a research note on Wednesday, May 17th. StockNews.com cut Pfizer from a “buy” rating to a “hold” rating in a report on Friday, June 30th. UBS Group cut their price target on shares of Pfizer from $41.00 to $39.00 in a research note on Friday, May 5th. Finally, Barclays dropped their price objective on shares of Pfizer from $43.00 to $40.00 in a report on Wednesday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.67.
Pfizer Profile
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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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