CMG Global Holdings LLC Raises Holdings in Pfizer Inc. (NYSE:PFE)

CMG Global Holdings LLC raised its stake in Pfizer Inc. (NYSE:PFE) by 19.1% in the fourth quarter, HoldingsChannel reports. The fund owned 18,277 shares of the biopharmaceutical company’s stock after purchasing an additional 2,927 shares during the period. CMG Global Holdings LLC’s holdings in Pfizer were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of PFE. State Street Corp lifted its stake in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after purchasing an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares during the period. Geode Capital Management LLC boosted its stake in shares of Pfizer by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after acquiring an additional 1,855,419 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after acquiring an additional 6,977,587 shares during the period. Finally, Swiss National Bank increased its stake in shares of Pfizer by 0.6% in the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after purchasing an additional 100,900 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the topic of several research analyst reports. Citigroup cut their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Finally, Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.89 on Friday. The business’s 50 day moving average price is $26.22 and its 200 day moving average price is $27.90. The company has a market cap of $152.41 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 0.64 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the previous year, the firm earned ($0.17) EPS. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, research analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.40%. Pfizer’s payout ratio is 232.44%.

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.