Corundum Group Inc. Grows Stake in Pfizer Inc. (NYSE:PFE)

Corundum Group Inc. boosted its position in shares of Pfizer Inc. (NYSE:PFE) by 126.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,241 shares of the biopharmaceutical company’s stock after acquiring an additional 17,439 shares during the quarter. Corundum Group Inc.’s holdings in Pfizer were worth $792,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Beam Wealth Advisors Inc. raised its holdings in shares of Pfizer by 1.5% in the 4th quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company’s stock valued at $728,000 after buying an additional 401 shares during the period. Providence Capital Advisors LLC increased its stake in Pfizer by 0.4% during the fourth quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company’s stock worth $3,034,000 after purchasing an additional 409 shares during the period. Donaldson Capital Management LLC lifted its position in shares of Pfizer by 1.2% during the fourth quarter. Donaldson Capital Management LLC now owns 35,694 shares of the biopharmaceutical company’s stock worth $947,000 after purchasing an additional 410 shares in the last quarter. Noesis Capital Mangement Corp boosted its stake in shares of Pfizer by 2.6% in the fourth quarter. Noesis Capital Mangement Corp now owns 16,357 shares of the biopharmaceutical company’s stock valued at $434,000 after purchasing an additional 413 shares during the period. Finally, First Command Advisory Services Inc. grew its holdings in shares of Pfizer by 2.5% in the fourth quarter. First Command Advisory Services Inc. now owns 17,479 shares of the biopharmaceutical company’s stock valued at $464,000 after purchasing an additional 418 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PFE shares. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price on the stock. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $25.00 price target (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Performance

Shares of PFE stock opened at $24.31 on Wednesday. The firm has a market cap of $138.18 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 0.87 and a beta of 0.57. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54. The stock’s 50-day moving average is $23.33 and its two-hundred day moving average is $24.87.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. Pfizer’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. Analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 9th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 7.08%. Pfizer’s payout ratio is currently 124.64%.

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.