Greenwood Capital Associates LLC Acquires New Position in Pfizer Inc. (NYSE:PFE)

Greenwood Capital Associates LLC bought a new position in Pfizer Inc. (NYSE:PFE) in the third quarter, HoldingsChannel reports. The fund bought 50,899 shares of the biopharmaceutical company’s stock, valued at approximately $1,473,000.

Other institutional investors also recently modified their holdings of the company. Olistico Wealth LLC purchased a new stake in shares of Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer in the 2nd quarter worth about $29,000. Quarry LP purchased a new stake in shares of Pfizer during the 2nd quarter worth about $31,000. Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the 2nd quarter valued at about $34,000. Finally, ESL Trust Services LLC bought a new stake in shares of Pfizer in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

PFE has been the subject of several recent research reports. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a research report 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 report on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Price Performance

NYSE:PFE opened at $27.76 on Tuesday. The company has a market capitalization of $157.31 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 0.89 and a beta of 0.67. The company has a 50-day moving average of $29.01 and a 200-day moving average of $28.63. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share 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 company’s revenue was up 31.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 annualized dividend and a yield of 6.05%. Pfizer’s dividend payout ratio is currently 227.03%.

Insider Activity

In other news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price 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 $282,400. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate 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.