Richardson Financial Services Inc. Invests $821,000 in Pfizer Inc. (NYSE:PFE)

Richardson Financial Services Inc. acquired a new position in Pfizer Inc. (NYSE:PFE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,527 shares of the biopharmaceutical company’s stock, valued at approximately $821,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Pfizer in the fourth quarter valued at approximately $2,129,927,000. Charles Schwab Investment Management Inc. lifted its position in Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after buying an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after buying an additional 8,298,920 shares during the last quarter. Invesco Ltd. grew its holdings in Pfizer by 30.9% in the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after buying an additional 5,678,004 shares in the last quarter. Finally, Ruffer LLP increased its stake in shares of Pfizer by 248.7% in the 4th quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after acquiring an additional 4,133,786 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PFE. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Guggenheim initiated 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, BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.86.

Pfizer Stock Down 0.4 %

Shares of PFE traded down $0.12 during midday trading on Friday, hitting $27.53. The company had a trading volume of 29,461,921 shares, compared to its average volume of 32,712,070. The company’s 50-day simple moving average is $27.56 and its 200-day simple moving average is $27.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The firm has a market capitalization of $156.00 billion, a P/E ratio of -458.76, a P/E/G ratio of 1.09 and a beta of 0.70. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $40.36.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (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 analysts’ expectations of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. As a group, sell-side analysts expect that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 10th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend was Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

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.