Pfizer Inc. (NYSE:PFE) Shares Purchased by Western Pacific Wealth Management LP

Western Pacific Wealth Management LP boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,073 shares of the biopharmaceutical company’s stock after purchasing an additional 386 shares during the period. Western Pacific Wealth Management LP’s holdings in Pfizer were worth $118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new position in Pfizer in the 1st quarter worth about $315,000. GSA Capital Partners LLP acquired a new position in Pfizer during the 1st quarter worth $439,000. Duality Advisers LP bought a new position in shares of Pfizer in the first quarter worth $1,009,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Pfizer by 26.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 554,167 shares of the biopharmaceutical company’s stock valued at $15,378,000 after purchasing an additional 115,725 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of Pfizer during the first quarter valued at about $482,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PFE shares. Citigroup initiated coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Stock Up 0.4 %

NYSE:PFE opened at $27.46 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The firm has a market capitalization of $155.62 billion, a P/E ratio of 37.11, a P/E/G ratio of 0.88 and a beta of 0.67. The stock’s fifty day simple moving average is $28.96 and its 200-day simple moving average is $28.64.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Equities research analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.12%. Pfizer’s dividend payout ratio is 227.03%.

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.