Partners Wealth Management LLC Takes $206,000 Position in Pfizer Inc. (NYSE:PFE)

Partners Wealth Management LLC purchased a new position in shares of Pfizer Inc. (NYSE:PFE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,760 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Several other institutional investors have also recently added to or reduced their stakes in PFE. South Dakota Investment Council grew its stake in shares of Pfizer by 0.7% in the 4th quarter. South Dakota Investment Council now owns 1,348,986 shares of the biopharmaceutical company’s stock valued at $35,789,000 after purchasing an additional 9,000 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Pfizer during the fourth quarter worth $4,322,000. World Equity Group Inc. grew its position in Pfizer by 36.0% in the 4th quarter. World Equity Group Inc. now owns 89,682 shares of the biopharmaceutical company’s stock valued at $2,372,000 after buying an additional 23,729 shares during the last quarter. Delta Financial Group Inc. acquired a new position in Pfizer in the 4th quarter valued at $2,564,000. Finally, Ascent Wealth Partners LLC increased its stake in Pfizer by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 75,588 shares of the biopharmaceutical company’s stock valued at $2,005,000 after buying an additional 734 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Truist Financial lowered their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Citigroup cut their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group dropped their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Trading Up 1.6 %

Shares of PFE stock opened at $26.32 on Monday. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $26.30 and a 200-day simple moving average of $27.40. The stock has a market cap of $149.14 billion, a P/E ratio of 18.66, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 121.99%.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.