Simmons Bank Buys 5,070 Shares of Pfizer Inc. (NYSE:PFE)

Simmons Bank grew its stake in Pfizer Inc. (NYSE:PFE) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,480 shares of the biopharmaceutical company’s stock after acquiring an additional 5,070 shares during the period. Simmons Bank’s holdings in Pfizer were worth $7,989,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 10.9% during the third 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. grew its holdings in 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 purchasing an additional 5,678,004 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in 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 purchasing an additional 5,185,453 shares during the period. Bank of Nova Scotia grew its holdings in 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 purchasing an additional 3,780,696 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Pfizer by 33.6% during the fourth quarter. Van ECK Associates Corp now owns 12,984,150 shares of the biopharmaceutical company’s stock worth $373,813,000 after purchasing an additional 3,265,276 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Morgan Stanley raised their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Guggenheim initiated coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. Finally, Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.00.

Pfizer Price Performance

PFE traded up $0.47 during trading on Wednesday, hitting $28.24. 25,859,062 shares of the stock traded hands, compared to its average volume of 43,375,301. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $40.37. The company has a market cap of $159.91 billion, a price-to-earnings ratio of -466.42, a PEG ratio of 1.17 and a beta of 0.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The business has a 50 day moving average price of $26.92 and a 200 day moving average price of $28.12.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. The business had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The company’s revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 earnings per share. Equities research analysts forecast that Pfizer Inc. will post 2.39 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business 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 dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.95%. Pfizer’s payout ratio is presently -2,799.53%.

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.