Allen Holding Inc. NY Acquires 300,000 Shares of Pfizer Inc. (NYSE:PFE)

Allen Holding Inc. NY raised its holdings in Pfizer Inc. (NYSE:PFE) by 150.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 500,000 shares of the biopharmaceutical company’s stock after purchasing an additional 300,000 shares during the quarter. Pfizer accounts for approximately 1.7% of Allen Holding Inc. NY’s investment portfolio, making the stock its 6th biggest position. Allen Holding Inc. NY’s holdings in Pfizer were worth $13,875,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Advisor OS LLC boosted its holdings in shares of Pfizer by 1.0% during the 4th quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company’s stock valued at $1,013,000 after acquiring an additional 365 shares in the last quarter. Safeguard Investment Advisory Group LLC boosted its holdings in shares of Pfizer by 3.9% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 9,987 shares of the biopharmaceutical company’s stock valued at $288,000 after acquiring an additional 371 shares in the last quarter. Lantz Financial LLC raised its position in Pfizer by 1.3% during the 1st quarter. Lantz Financial LLC now owns 30,582 shares of the biopharmaceutical company’s stock worth $849,000 after purchasing an additional 381 shares during the last quarter. Wellington Shields Capital Management LLC raised its position in Pfizer by 1.3% during the 1st quarter. Wellington Shields Capital Management LLC now owns 30,750 shares of the biopharmaceutical company’s stock worth $853,000 after purchasing an additional 385 shares during the last quarter. Finally, King Wealth Management Group raised its position in Pfizer by 2.4% during the 4th quarter. King Wealth Management Group now owns 16,686 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 388 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday. BMO Capital Markets reaffirmed 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. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Morgan Stanley lifted 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. Finally, Barclays lifted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Nine research 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 presently has an average rating of “Hold” and an average price target of $35.69.

Pfizer Stock Up 0.9 %

PFE stock traded up $0.26 during mid-day trading on Friday, reaching $28.92. 28,396,983 shares of the company traded hands, compared to its average volume of 27,409,562. The stock has a market cap of $163.88 billion, a price-to-earnings ratio of -481.92, a P/E/G ratio of 1.12 and a beta of 0.69. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.80. The firm’s 50 day moving average price is $28.25 and its 200 day moving average price is $27.72.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 positive return on equity of 8.64% and a negative net margin of 0.56%. The company’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. As a group, equities research analysts predict that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.81%. Pfizer’s dividend payout ratio (DPR) is currently -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.