Novem Group Makes New Investment in Pfizer Inc. (NYSE:PFE)

Novem Group bought a new stake in shares of Pfizer Inc. (NYSE:PFE) during the 4th quarter, Holdings Channel reports. The institutional investor bought 14,266 shares of the biopharmaceutical company’s stock, valued at approximately $378,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Pfizer by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company’s stock valued at $13,756,738,000 after buying an additional 2,285,276 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Geode Capital Management LLC boosted its stake in Pfizer by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company’s stock worth $3,190,131,000 after purchasing an additional 2,923,537 shares in the last quarter. Norges Bank acquired a new stake in Pfizer in the 4th quarter worth approximately $2,328,986,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Pfizer by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock worth $2,029,604,000 after purchasing an additional 5,350,381 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFE has been the topic of several research reports. UBS Group upped their target price on Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 target price (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Finally, Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Down 0.1%

PFE opened at $23.02 on Friday. The company has a fifty day moving average of $23.44 and a two-hundred day moving average of $25.22. 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 fifty-two week low of $20.92 and a fifty-two week high of $31.54. The stock has a market capitalization of $130.88 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 0.64 and a beta of 0.58.

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

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 7.47%. Pfizer’s dividend payout ratio is currently 124.64%.

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.