Choreo LLC Boosts Stake in Pfizer Inc. (NYSE:PFE)

Choreo LLC raised its position in Pfizer Inc. (NYSE:PFE) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,573 shares of the biopharmaceutical company’s stock after purchasing an additional 12,181 shares during the quarter. Choreo LLC’s holdings in Pfizer were worth $3,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Charles Schwab Investment Management Inc. raised its position in Pfizer by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after purchasing an additional 9,393,992 shares during the period. Invesco Ltd. increased its position in shares of Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after acquiring an additional 5,678,004 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 9.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock worth $1,997,083,000 after acquiring an additional 5,185,453 shares during the period. Bank of Nova Scotia increased its position in shares of Pfizer by 219.4% during the third quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock worth $182,567,000 after acquiring an additional 3,780,696 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Pfizer by 38.9% during the third quarter. Canada Pension Plan Investment Board now owns 10,028,940 shares of the biopharmaceutical company’s stock worth $332,660,000 after acquiring an additional 2,807,846 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PFE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. TD Cowen lowered shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research report on Thursday, January 4th. Guggenheim began coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 target price on the stock. Finally, Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.33.

Pfizer Price Performance

Shares of PFE opened at $25.65 on Tuesday. The company has a market cap of $145.24 billion, a price-to-earnings ratio of 71.25, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $40.37. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average of $26.92 and a two-hundred day moving average of $28.31.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.29. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.37 billion. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. Pfizer’s revenue was down 41.3% compared to the same quarter last year. During the same period last year, the firm earned $1.14 earnings per share. As a group, analysts predict that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.55%. Pfizer’s dividend payout ratio (DPR) is 466.67%.

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.