Newbridge Financial Services Group Inc. Buys New Position in Pfizer Inc. (NYSE:PFE)

Newbridge Financial Services Group Inc. bought a new position in Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,904 shares of the biopharmaceutical company’s stock, valued at approximately $395,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management boosted its stake in Pfizer by 26.3% during the third quarter. Ritholtz Wealth Management now owns 55,267 shares of the biopharmaceutical company’s stock worth $1,599,000 after acquiring an additional 11,519 shares in the last quarter. Retirement Planning Group LLC acquired a new position in shares of Pfizer during the third quarter valued at about $354,000. Exchange Traded Concepts LLC boosted its position in shares of Pfizer by 117.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 69,178 shares of the biopharmaceutical company’s stock worth $2,002,000 after purchasing an additional 37,293 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Pfizer in the 3rd quarter valued at about $4,370,000. Finally, McGlone Suttner Wealth Management Inc. increased its position in Pfizer by 17.7% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 15,378 shares of the biopharmaceutical company’s stock valued at $445,000 after buying an additional 2,311 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PFE. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. UBS Group cut their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Truist Financial lowered their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Wolfe Research started 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Price Performance

Shares of NYSE PFE opened at $25.76 on Monday. The company has a market capitalization of $145.96 billion, a PE ratio of 18.27, a PEG ratio of 0.64 and a beta of 0.64. 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 stock’s 50 day moving average price is $26.28 and its 200-day moving average price is $27.73. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54.

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

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a $0.43 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.68%. Pfizer’s payout ratio is currently 121.99%.

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.