Pfizer Inc. (NYSE:PFE) Shares Acquired by Straight Path Wealth Management

Straight Path Wealth Management lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 3.2% during the third quarter, Holdings Channel.com reports. The fund owned 38,212 shares of the biopharmaceutical company’s stock after purchasing an additional 1,187 shares during the period. Pfizer accounts for about 0.5% of Straight Path Wealth Management’s holdings, making the stock its 26th biggest holding. Straight Path Wealth Management’s holdings in Pfizer were worth $1,106,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. bought a new stake in Pfizer during the first quarter worth approximately $315,000. M&G Plc acquired a new position in Pfizer in the 1st quarter worth approximately $19,885,000. Mizuho Markets Americas LLC acquired a new position in Pfizer in the 1st quarter worth approximately $3,745,000. Jupiter Asset Management Ltd. acquired a new position in Pfizer in the 1st quarter worth approximately $3,221,000. Finally, Westfield Capital Management Co. LP acquired a new position in Pfizer in the 1st quarter worth approximately $7,057,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 4.7 %

Shares of Pfizer stock traded down $1.22 during midday trading on Friday, reaching $24.80. 131,074,383 shares of the company’s stock traded hands, compared to its average volume of 38,229,605. The company has a market cap of $140.54 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. The company’s 50 day simple moving average is $28.64 and its 200 day simple moving average is $28.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. Equities analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.77%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Citigroup initiated coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of 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 reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

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.