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

Cullinan Associates Inc. grew its position in shares of Pfizer Inc. (NYSE:PFE) by 42.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 278,202 shares of the biopharmaceutical company’s stock after purchasing an additional 83,384 shares during the period. Cullinan Associates Inc.’s holdings in Pfizer were worth $7,720,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Teza Capital Management LLC bought a new stake in shares of Pfizer in the 3rd quarter valued at about $347,000. Hodges Capital Management Inc. bought a new stake in shares of Pfizer in the 3rd quarter valued at about $203,000. Truist Financial Corp raised its position in Pfizer by 1.9% during the 3rd quarter. Truist Financial Corp now owns 3,994,764 shares of the biopharmaceutical company’s stock valued at $132,506,000 after purchasing an additional 74,746 shares during the last quarter. Advisors Asset Management Inc. raised its position in Pfizer by 2.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 564,577 shares of the biopharmaceutical company’s stock valued at $18,727,000 after purchasing an additional 15,507 shares during the last quarter. Finally, Axxcess Wealth Management LLC raised its position in Pfizer by 178.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 181,425 shares of the biopharmaceutical company’s stock valued at $6,018,000 after purchasing an additional 116,243 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pfizer Stock Down 1.8 %

Shares of Pfizer stock traded down $0.50 during midday trading on Tuesday, hitting $27.72. The company had a trading volume of 8,346,691 shares, compared to its average volume of 40,533,824. 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 stock has a market capitalization of $157.08 billion, a P/E ratio of -466.59, a P/E/G ratio of 1.10 and a beta of 0.69. The company has a 50 day moving average of $27.90 and a 200 day moving average of $27.69. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $37.80.

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, beating the consensus estimate of $0.56 by $0.26. The business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The business’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. On average, equities analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.68 dividend on an annualized basis and a yield of 6.06%. Pfizer’s dividend 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.