Pfizer Inc. (NYSE:PFE) Position Increased by Tradition Wealth Management LLC

Tradition Wealth Management LLC raised its stake in Pfizer Inc. (NYSE:PFE) by 4.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,358 shares of the biopharmaceutical company’s stock after acquiring an additional 1,099 shares during the period. Tradition Wealth Management LLC’s holdings in Pfizer were worth $734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Olistico Wealth LLC purchased a new stake in shares of Pfizer during the second quarter valued at $25,000. Gladius Capital Management LP raised its holdings in Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares during the period. MFA Wealth Advisors LLC purchased a new stake in Pfizer during the second quarter valued at about $29,000. Quarry LP purchased a new position in shares of Pfizer in the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PFE shares. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Insiders Place Their Bets

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Price Performance

NYSE PFE opened at $26.21 on Monday. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The stock’s 50-day moving average is $27.83 and its two-hundred day moving average is $28.49. The firm has a market cap of $148.53 billion, a P/E ratio of 35.42, a price-to-earnings-growth ratio of 0.71 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the company posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently 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.