Alpha Cubed Investments LLC Has $1 Million Holdings in Pfizer Inc. (NYSE:PFE)

Alpha Cubed Investments LLC increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.8% in the fourth quarter, Holdings Channel reports. The firm owned 34,746 shares of the biopharmaceutical company’s stock after buying an additional 608 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Pfizer were worth $1,000,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFE. Arcadia Investment Management Corp MI grew its stake in Pfizer by 9.5% in the third quarter. Arcadia Investment Management Corp MI now owns 11,545 shares of the biopharmaceutical company’s stock valued at $383,000 after acquiring an additional 1,000 shares during the period. Innova Wealth Partners acquired a new position in Pfizer in the third quarter valued at about $208,000. Busey Trust CO grew its stake in Pfizer by 1.1% in the third quarter. Busey Trust CO now owns 668,948 shares of the biopharmaceutical company’s stock valued at $22,189,000 after acquiring an additional 7,527 shares during the period. Toews Corp ADV acquired a new position in shares of Pfizer during the third quarter worth about $813,000. Finally, Accurate Wealth Management LLC boosted its position in shares of Pfizer by 7.5% during the third quarter. Accurate Wealth Management LLC now owns 35,396 shares of the biopharmaceutical company’s stock worth $1,159,000 after buying an additional 2,467 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PFE has been the subject of several recent research reports. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. TD Cowen cut Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research report on Thursday, January 4th. Guggenheim began coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.33.

Pfizer Stock Performance

NYSE:PFE opened at $26.24 on Wednesday. The stock has a market cap of $148.59 billion, a P/E ratio of 71.14, a PEG ratio of 1.16 and a beta of 0.61. The stock has a 50 day simple moving average of $26.88 and a 200 day simple moving average of $28.26. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $40.37.

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

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.40%. Pfizer’s payout ratio is currently 466.67%.

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.