Perkins Coie Trust Co Grows Holdings in Pfizer Inc. (NYSE:PFE)

Perkins Coie Trust Co raised its position in Pfizer Inc. (NYSE:PFE) by 4.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,495 shares of the biopharmaceutical company’s stock after buying an additional 5,185 shares during the period. Perkins Coie Trust Co’s holdings in Pfizer were worth $3,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC boosted its position in Pfizer by 1,394.1% during the third quarter. V Square Quantitative Management LLC now owns 5,827 shares of the biopharmaceutical company’s stock worth $193,000 after acquiring an additional 5,437 shares during the last quarter. Syntax Advisors LLC increased its stake in shares of Pfizer by 14.5% in the 3rd quarter. Syntax Advisors LLC now owns 6,764 shares of the biopharmaceutical company’s stock worth $224,000 after acquiring an additional 858 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Pfizer by 15.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 167,032 shares of the biopharmaceutical company’s stock worth $5,540,000 after acquiring an additional 22,276 shares during the period. Certified Advisory Corp boosted its position in shares of Pfizer by 1.8% during the 3rd quarter. Certified Advisory Corp now owns 63,986 shares of the biopharmaceutical company’s stock valued at $2,122,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in shares of Pfizer by 3.9% in the third quarter. Jacobi Capital Management LLC now owns 116,906 shares of the biopharmaceutical company’s stock valued at $3,878,000 after purchasing an additional 4,406 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of several recent analyst reports. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday, June 17th. Finally, Morgan Stanley upped their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.86.

Pfizer Stock Up 2.2 %

Shares of PFE stock traded up $0.62 during trading on Monday, reaching $28.36. The company’s stock had a trading volume of 35,378,817 shares, compared to its average volume of 41,267,238. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $37.80. The stock’s 50-day moving average price is $27.72 and its 200 day moving average price is $27.70. The company has a market capitalization of $160.68 billion, a price-to-earnings ratio of -472.58, a P/E/G ratio of 1.09 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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 positive return on equity of 8.64% and a negative net margin of 0.56%. The business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. On average, research analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 5.92%. Pfizer’s dividend payout ratio is currently -2,800.00%.

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.