Coerente Capital Management Buys 7,539 Shares of Pfizer Inc. (NYSE:PFE)

Coerente Capital Management boosted its stake in Pfizer Inc. (NYSE:PFE) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 601,217 shares of the biopharmaceutical company’s stock after purchasing an additional 7,539 shares during the quarter. Pfizer comprises about 3.0% of Coerente Capital Management’s investment portfolio, making the stock its 17th largest holding. Coerente Capital Management’s holdings in Pfizer were worth $15,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PFE. Thompson Investment Management Inc. increased its holdings in shares of Pfizer by 1.8% in the first quarter. Thompson Investment Management Inc. now owns 410,845 shares of the biopharmaceutical company’s stock worth $10,411,000 after acquiring an additional 7,381 shares in the last quarter. Alpha Omega Wealth Management LLC increased its holdings in shares of Pfizer by 30.6% in the first quarter. Alpha Omega Wealth Management LLC now owns 179,570 shares of the biopharmaceutical company’s stock worth $4,550,000 after acquiring an additional 42,083 shares in the last quarter. Capital Advisory Group Advisory Services LLC increased its holdings in shares of Pfizer by 19.6% in the first quarter. Capital Advisory Group Advisory Services LLC now owns 13,154 shares of the biopharmaceutical company’s stock worth $333,000 after acquiring an additional 2,156 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Pfizer by 1.3% in the first quarter. Focus Financial Network Inc. now owns 47,522 shares of the biopharmaceutical company’s stock worth $1,204,000 after acquiring an additional 607 shares in the last quarter. Finally, Donaldson Capital Management LLC increased its holdings in shares of Pfizer by 8.6% in the first quarter. Donaldson Capital Management LLC now owns 38,772 shares of the biopharmaceutical company’s stock worth $982,000 after acquiring an additional 3,078 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PFE shares. Cantor Fitzgerald started coverage on Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price target for the company. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. UBS Group upped their price objective on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Pfizer Stock Performance

PFE opened at $24.46 on Thursday. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The stock has a market cap of $139.04 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.64 and a beta of 0.57. The business has a 50 day moving average of $22.96 and a 200-day moving average of $24.98. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $13.72 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period last year, the firm posted $0.82 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. On average, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.03%. Pfizer’s payout ratio is currently 124.64%.

Pfizer Company 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.