Harvest Portfolios Group Inc. Purchases 8,200 Shares of Pfizer Inc. (NYSE:PFE)

Harvest Portfolios Group Inc. grew its holdings in shares of Pfizer Inc. (NYSE:PFE) by 13.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 70,900 shares of the biopharmaceutical company’s stock after buying an additional 8,200 shares during the period. Harvest Portfolios Group Inc.’s holdings in Pfizer were worth $2,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Olistico Wealth LLC purchased a new stake in Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer in the second quarter worth about $29,000. Quarry LP purchased a new position in Pfizer in the 2nd quarter worth about $31,000. Financial Connections Group Inc. purchased a new stake in Pfizer in the 2nd quarter valued at about $34,000. Finally, ESL Trust Services LLC bought a new position in Pfizer in the 1st quarter worth about $37,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Price Performance

NYSE PFE opened at $27.35 on Thursday. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The firm’s fifty day simple moving average is $28.96 and its two-hundred day simple moving average is $28.64. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $154.98 billion, a P/E ratio of 36.96, a P/E/G ratio of 0.88 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the company posted ($0.17) EPS. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. Analysts forecast that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.14%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is presently 227.03%.

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PFE. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Sanford C. Bernstein started coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

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.