Allen Wealth Management LLC Purchases Shares of 77,249 Pfizer Inc. (NYSE:PFE)

Allen Wealth Management LLC acquired a new stake in shares of Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 77,249 shares of the biopharmaceutical company’s stock, valued at approximately $2,224,000. Pfizer accounts for approximately 2.2% of Allen Wealth Management LLC’s portfolio, making the stock its 11th biggest position.

A number of other hedge funds also recently made changes to their positions in the stock. Advisor OS LLC increased its position in shares of Pfizer by 1.0% in the fourth quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company’s stock valued at $1,013,000 after buying an additional 365 shares in the last quarter. Safeguard Investment Advisory Group LLC increased its position in shares of Pfizer by 3.9% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 9,987 shares of the biopharmaceutical company’s stock valued at $288,000 after buying an additional 371 shares in the last quarter. King Wealth Management Group increased its position in shares of Pfizer by 2.4% in the fourth quarter. King Wealth Management Group now owns 16,686 shares of the biopharmaceutical company’s stock valued at $480,000 after buying an additional 388 shares in the last quarter. Advance Capital Management Inc. increased its position in shares of Pfizer by 4.0% during the fourth quarter. Advance Capital Management Inc. now owns 10,177 shares of the biopharmaceutical company’s stock worth $293,000 after purchasing an additional 391 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Pfizer by 1.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 28,952 shares of the biopharmaceutical company’s stock worth $834,000 after purchasing an additional 396 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Guggenheim assumed coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.86.

Pfizer Trading Down 0.8 %

PFE traded down $0.22 during mid-day trading on Friday, hitting $28.58. 27,526,200 shares of the stock were exchanged, compared to its average volume of 33,056,490. The firm’s fifty day moving average is $27.50 and its two-hundred day moving average is $27.85. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $40.37. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The company has a market cap of $161.95 billion, a PE ratio of -476.25, a PEG ratio of 1.12 and a beta of 0.70.

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

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders 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 5.88%. Pfizer’s dividend payout ratio (DPR) 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.