RFP Financial Group LLC Raises Stock Position in Pfizer Inc. (NYSE:PFE)

RFP Financial Group LLC lifted its position in Pfizer Inc. (NYSE:PFE) by 10.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,946 shares of the biopharmaceutical company’s stock after purchasing an additional 1,470 shares during the period. RFP Financial Group LLC’s holdings in Pfizer were worth $461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP raised its stake in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after acquiring an additional 8,378,173 shares in the last quarter. Swedbank AB purchased a new position in Pfizer during the 1st quarter worth $172,902,000. Pzena Investment Management LLC increased its holdings in shares of Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after acquiring an additional 4,947,000 shares in the last quarter. Van ECK Associates Corp grew its position in Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock worth $438,820,000 after purchasing an additional 2,829,178 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after purchasing an additional 2,487,919 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PFE. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Thursday, October 3rd. Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Trading Down 0.6 %

Shares of PFE traded down $0.17 during midday trading on Tuesday, hitting $28.76. 9,072,826 shares of the stock were exchanged, compared to its average volume of 36,902,449. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market cap of $162.97 billion, a P/E ratio of -482.17, a P/E/G ratio of 1.02 and a beta of 0.67. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The stock has a fifty day simple moving average of $29.07 and a 200 day simple moving average of $28.47.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 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 analysts’ expectations 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 last year, the business posted $0.67 EPS. On average, research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

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 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 5.84%. Pfizer’s payout ratio is -2,800.00%.

Pfizer Company 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.