Nexus Investment Management ULC Raises Stake in Pfizer Inc. (NYSE:PFE)

Nexus Investment Management ULC boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 12.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 833,846 shares of the biopharmaceutical company’s stock after acquiring an additional 90,470 shares during the period. Pfizer accounts for about 2.2% of Nexus Investment Management ULC’s investment portfolio, making the stock its 27th largest holding. Nexus Investment Management ULC’s holdings in Pfizer were worth $23,139,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GoalVest Advisory LLC increased its stake in Pfizer by 304.9% during the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 811 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in Pfizer during the 4th quarter valued at about $32,000. VisionPoint Advisory Group LLC increased its stake in Pfizer by 52,350.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 1,047 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Pfizer during the 4th quarter valued at about $36,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Pfizer during the 4th quarter valued at about $37,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

NYSE:PFE traded up $0.01 during trading hours on Friday, hitting $27.75. 52,521,502 shares of the stock traded hands, compared to its average volume of 41,332,605. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $38.99. The company has a market cap of $157.22 billion, a price-to-earnings ratio of -462.34, a price-to-earnings-growth ratio of 1.08 and a beta of 0.70. The stock has a 50 day moving average price of $27.67 and a 200 day moving average price of $27.72.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. Sell-side analysts forecast that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend was Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of analyst reports. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Morgan Stanley raised their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Guggenheim started coverage on shares of Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.86.

About Pfizer

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.