SteelPeak Wealth LLC Raises Stock Holdings in Pfizer Inc. (NYSE:PFE)

SteelPeak Wealth LLC grew its holdings in Pfizer Inc. (NYSE:PFE) by 237.0% during the third quarter, HoldingsChannel.com reports. The firm owned 173,317 shares of the biopharmaceutical company’s stock after acquiring an additional 121,889 shares during the quarter. SteelPeak Wealth LLC’s holdings in Pfizer were worth $5,016,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. LGT Group Foundation raised its stake in Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after buying an additional 18,274 shares in the last quarter. Creative Planning boosted its position in shares of Pfizer by 17.1% in the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after purchasing an additional 266,167 shares in the last quarter. ORG Partners LLC grew its stake in Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after buying an additional 44,458 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Pfizer by 10.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock valued at $7,422,000 after buying an additional 23,928 shares in the last quarter. Finally, Everett Harris & Co. CA raised its stake in Pfizer by 21.7% in the third quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock valued at $6,319,000 after buying an additional 38,870 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Citigroup started coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Price Performance

Shares of PFE traded down $0.15 on Wednesday, reaching $28.31. The stock had a trading volume of 19,724,411 shares, compared to its average volume of 37,078,656. The firm has a 50-day moving average of $29.07 and a 200 day moving average of $28.56. The firm has a market capitalization of $160.42 billion, a PE ratio of -61.59, a PEG ratio of 0.99 and a beta of 0.67. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. 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 quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Sell-side analysts expect that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.93%. Pfizer’s dividend payout ratio (DPR) is presently -365.21%.

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.