Silverlake Wealth Management LLC Purchases 11,833 Shares of Pfizer Inc. (NYSE:PFE)

Silverlake Wealth Management LLC grew its position in shares of Pfizer Inc. (NYSE:PFE) by 20.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,723 shares of the biopharmaceutical company’s stock after purchasing an additional 11,833 shares during the quarter. Pfizer makes up about 0.8% of Silverlake Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Silverlake Wealth Management LLC’s holdings in Pfizer were worth $2,047,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares during the period. Federated Hermes Inc. raised its position in shares of Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after acquiring an additional 470,003 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Pfizer by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after purchasing an additional 238,850 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

PFE traded down $0.18 during midday trading on Friday, hitting $29.16. 29,617,610 shares of the company traded hands, compared to its average volume of 37,393,754. The company’s 50-day moving average is $29.04 and its 200 day moving average is $28.38. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $33.92. The firm has a market capitalization of $165.24 billion, a PE ratio of -485.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. On average, research analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.76%. Pfizer’s payout ratio is -2,800.00%.

Analysts Set New Price Targets

PFE has been the subject of a number of research reports. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Thursday, October 3rd. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer 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.