Cullinan Associates Inc. Buys 83,384 Shares of Pfizer Inc. (NYSE:PFE)

Cullinan Associates Inc. lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 42.8% during the first quarter, Holdings Channel.com reports. The firm owned 278,202 shares of the biopharmaceutical company’s stock after acquiring an additional 83,384 shares during the period. Cullinan Associates Inc.’s holdings in Pfizer were worth $7,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFE. VisionPoint Advisory Group LLC raised its holdings in shares of Pfizer by 52,350.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 1,047 shares during the last quarter. GoalVest Advisory LLC increased its stake in Pfizer by 304.9% in the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 811 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Pfizer in the 4th quarter valued at about $32,000. Trivant Custom Portfolio Group LLC increased its stake in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 600 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Pfizer in the 4th quarter valued at about $36,000. Institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PFE. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Morgan Stanley increased their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, June 26th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Pfizer presently has a consensus rating of “Hold” and an average price target of $35.54.

Pfizer Price Performance

NYSE:PFE traded down $0.50 during trading hours on Tuesday, hitting $27.72. The stock had a trading volume of 8,346,691 shares, compared to its average volume of 40,533,824. The company has a 50 day simple moving average of $27.90 and a two-hundred day simple moving average of $27.69. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. Pfizer Inc. has a one year low of $25.20 and a one year high of $37.80. The firm has a market capitalization of $157.08 billion, a price-to-earnings ratio of -466.59, a P/E/G ratio of 1.10 and a beta of 0.69.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the firm earned $1.23 EPS. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. Research analysts forecast that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date is Thursday, July 25th. Pfizer’s payout ratio is currently -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.