Atalanta Sosnoff Capital LLC Makes New Investment in Pfizer Inc. (NYSE:PFE)

Atalanta Sosnoff Capital LLC bought a new stake in shares of Pfizer Inc. (NYSE:PFE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,043 shares of the biopharmaceutical company’s stock, valued at approximately $399,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Accredited Wealth Management LLC purchased a new position in shares of Pfizer during the 4th quarter worth approximately $137,000. Alden Global Capital LLC purchased a new stake in Pfizer in the fourth quarter worth $6,222,000. Allegheny Financial Group raised its holdings in Pfizer by 6.5% in the fourth quarter. Allegheny Financial Group now owns 44,129 shares of the biopharmaceutical company’s stock worth $1,171,000 after purchasing an additional 2,692 shares in the last quarter. 4WEALTH Advisors Inc. purchased a new position in Pfizer during the fourth quarter valued at $284,000. Finally, Acorn Financial Advisory Services Inc. ADV boosted its holdings in shares of Pfizer by 32.8% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 9,288 shares of the biopharmaceutical company’s stock valued at $246,000 after buying an additional 2,292 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE opened at $24.19 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm has a market cap of $137.19 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. The business has a 50-day simple moving average of $24.34 and a two-hundred day simple moving average of $25.78. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54.

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

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PFE. UBS Group lifted their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup reiterated a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Guggenheim restated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Cantor Fitzgerald assumed coverage on Pfizer in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective for the company. Finally, Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.17.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

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.