Oppenheimer Asset Management Inc. Grows Position in Pfizer Inc. (NYSE:PFE)

Oppenheimer Asset Management Inc. increased its holdings in Pfizer Inc. (NYSE:PFE) by 11.1% in the first quarter, Holdings Channel reports. The fund owned 323,471 shares of the biopharmaceutical company’s stock after purchasing an additional 32,203 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Pfizer were worth $8,197,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vantage Point Financial LLC lifted its position in shares of Pfizer by 5.9% during the first quarter. Vantage Point Financial LLC now owns 19,374 shares of the biopharmaceutical company’s stock valued at $491,000 after buying an additional 1,081 shares during the last quarter. EQ Wealth Advisors LLC purchased a new stake in shares of Pfizer during the first quarter valued at about $137,000. JFS Wealth Advisors LLC lifted its position in shares of Pfizer by 3.8% during the first quarter. JFS Wealth Advisors LLC now owns 43,881 shares of the biopharmaceutical company’s stock valued at $1,112,000 after buying an additional 1,623 shares during the last quarter. Brown Lisle Cummings Inc. lifted its position in shares of Pfizer by 2.0% during the first quarter. Brown Lisle Cummings Inc. now owns 62,505 shares of the biopharmaceutical company’s stock valued at $1,584,000 after buying an additional 1,197 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in shares of Pfizer by 2.4% during the first quarter. Flagship Harbor Advisors LLC now owns 66,400 shares of the biopharmaceutical company’s stock valued at $1,683,000 after buying an additional 1,585 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

PFE opened at $24.04 on Tuesday. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $136.68 billion, a PE ratio of 17.42, a P/E/G ratio of 0.87 and a beta of 0.57. The firm has a 50 day moving average of $23.30 and a two-hundred day moving average of $24.88.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The company had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period last year, the firm posted $0.82 EPS. Pfizer’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 9th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date was Friday, May 9th. Pfizer’s dividend payout ratio is presently 124.64%.

Analyst Ratings Changes

Several analysts have commented on the stock. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price objective for the company. UBS Group increased their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $25.00 price objective (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. One equities research 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

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.