Synergy Asset Management LLC Increases Stake in Pfizer Inc. (NYSE:PFE)

Synergy Asset Management LLC lifted its holdings in Pfizer Inc. (NYSE:PFE) by 43.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,484 shares of the biopharmaceutical company’s stock after buying an additional 67,842 shares during the quarter. Pfizer accounts for 1.1% of Synergy Asset Management LLC’s portfolio, making the stock its 25th biggest holding. Synergy Asset Management LLC’s holdings in Pfizer were worth $6,202,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PFE. Norges Bank acquired a new position in Pfizer in the 4th quarter valued at $2,129,927,000. Wellington Management Group LLP increased its position in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after purchasing an additional 8,473,686 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after buying an additional 8,298,920 shares during the period. Finally, Ruffer LLP raised its position in shares of Pfizer by 248.7% in the 4th quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after buying an additional 4,133,786 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFE has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, June 26th. Morgan Stanley increased their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.54.

Pfizer Price Performance

Shares of NYSE PFE traded down $0.33 during mid-day trading on Tuesday, reaching $27.89. 11,420,707 shares of the company traded hands, compared to its average volume of 40,558,223. The stock has a fifty day simple moving average of $27.90 and a 200-day simple moving average of $27.69. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The firm has a market cap of $158.04 billion, a PE ratio of -466.59, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.80.

Pfizer (NYSE:PFE) last issued its quarterly 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 analysts’ expectations of $13.87 billion. During the same period in the previous year, the business earned $1.23 earnings per share. Pfizer’s revenue for the quarter was down 19.5% compared to the same quarter last year. Equities research analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date is Thursday, July 25th. This represents a $1.68 dividend on an annualized basis and a yield of 6.02%. Pfizer’s dividend payout ratio is currently -2,799.53%.

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.