Probity Advisors Inc. Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Probity Advisors Inc. raised its position in shares of Pfizer Inc. (NYSE:PFE) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,780 shares of the biopharmaceutical company’s stock after buying an additional 3,175 shares during the quarter. Probity Advisors Inc.’s holdings in Pfizer were worth $1,180,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Olistico Wealth LLC purchased a new stake in Pfizer during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the second quarter worth $29,000. Quarry LP purchased a new stake in shares of Pfizer during the 2nd quarter valued at $31,000. Trivant Custom Portfolio Group LLC boosted its position in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new position in Pfizer during the 2nd quarter worth $34,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

Shares of PFE stock opened at $29.57 on Thursday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $32.68. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock has a market cap of $167.56 billion, a PE ratio of -494.33, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. The business has a 50-day simple moving average of $29.04 and a 200-day simple moving average of $28.42.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. On average, equities analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.68%. Pfizer’s dividend payout ratio is presently -2,800.00%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PFE shares. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. UBS Group upped their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Barclays lifted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.91.

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.