Patrick M Sweeney & Associates Inc. Takes Position in Pfizer Inc. (NYSE:PFE)

Patrick M Sweeney & Associates Inc. purchased a new stake in Pfizer Inc. (NYSE:PFE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 41,889 shares of the biopharmaceutical company’s stock, valued at approximately $1,206,000. Pfizer comprises approximately 1.1% of Patrick M Sweeney & Associates Inc.’s investment portfolio, making the stock its 19th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Beacon Financial Advisory LLC raised its holdings in Pfizer by 3.4% during the 3rd quarter. Beacon Financial Advisory LLC now owns 29,245 shares of the biopharmaceutical company’s stock worth $970,000 after purchasing an additional 956 shares during the last quarter. Canal Capital Management LLC lifted its stake in Pfizer by 2.4% in the third quarter. Canal Capital Management LLC now owns 21,326 shares of the biopharmaceutical company’s stock valued at $707,000 after buying an additional 506 shares during the period. Concord Wealth Partners boosted its holdings in shares of Pfizer by 51.9% during the 3rd quarter. Concord Wealth Partners now owns 15,843 shares of the biopharmaceutical company’s stock worth $526,000 after buying an additional 5,412 shares in the last quarter. JB Capital LLC grew its position in shares of Pfizer by 22.0% during the 3rd quarter. JB Capital LLC now owns 154,540 shares of the biopharmaceutical company’s stock worth $5,126,000 after buying an additional 27,868 shares during the period. Finally, ETF Store Inc. increased its stake in shares of Pfizer by 12.0% in the 3rd quarter. ETF Store Inc. now owns 6,803 shares of the biopharmaceutical company’s stock valued at $214,000 after acquiring an additional 727 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PFE shares. BMO Capital Markets restated an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Guggenheim began coverage on shares of Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. Finally, Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Pfizer Stock Performance

Shares of PFE stock traded up $0.50 on Wednesday, hitting $28.27. 38,646,309 shares of the stock were exchanged, compared to its average volume of 43,539,004. The firm has a market capitalization of $160.08 billion, a PE ratio of -466.42, a P/E/G ratio of 1.17 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average is $26.92 and its two-hundred day moving average is $28.12. Pfizer Inc. has a one year low of $25.20 and a one year high of $40.37.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. Pfizer’s revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. Sell-side analysts expect that Pfizer Inc. will post 2.39 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 5.94%. Pfizer’s dividend payout ratio is currently -2,799.53%.

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.