Naviter Wealth LLC Has $1.59 Million Stake in Pfizer Inc. (NYSE:PFE)

Naviter Wealth LLC raised its position in shares of Pfizer Inc. (NYSE:PFE) by 18.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,033 shares of the biopharmaceutical company’s stock after acquiring an additional 9,408 shares during the quarter. Naviter Wealth LLC’s holdings in Pfizer were worth $1,593,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after buying an additional 25,315,159 shares during the period. Raymond James Financial Inc. bought a new position in Pfizer during the fourth quarter worth $274,694,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. Fisher Asset Management LLC increased its stake in Pfizer by 79.5% in the fourth quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company’s stock valued at $295,760,000 after purchasing an additional 4,938,209 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Pfizer by 28.5% during the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock valued at $564,739,000 after purchasing an additional 4,726,549 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Performance

NYSE:PFE opened at $26.71 on Friday. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business has a fifty day simple moving average of $26.30 and a two-hundred day simple moving average of $27.24. The company has a market capitalization of $151.35 billion, a P/E ratio of 18.94, a P/E/G ratio of 0.64 and a beta of 0.61.

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

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, January 24th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.44%. Pfizer’s dividend payout ratio (DPR) is 121.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PFE. Truist Financial reduced their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Citigroup lowered their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. UBS Group reduced their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Guggenheim reissued a “buy” rating and set a $33.00 target price on shares of Pfizer in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eight have given 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Insider Activity at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the transaction, the director now owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is 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.