Golden State Wealth Management LLC Buys New Shares in Pfizer Inc. (NYSE:PFE)

Golden State Wealth Management LLC bought a new stake in Pfizer Inc. (NYSE:PFE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,320 shares of the biopharmaceutical company’s stock, valued at approximately $857,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prairie Wealth Advisors Inc. lifted its stake in Pfizer by 23.5% during the fourth quarter. Prairie Wealth Advisors Inc. now owns 9,407 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 1,791 shares during the last quarter. Keystone Financial Group Inc. acquired a new stake in Pfizer during the fourth quarter worth approximately $114,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Pfizer by 7.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 756,400 shares of the biopharmaceutical company’s stock worth $20,067,000 after buying an additional 52,578 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Pfizer by 7.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,075,637 shares of the biopharmaceutical company’s stock valued at $373,427,000 after buying an additional 956,873 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in Pfizer by 19,570.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 800,000 shares of the biopharmaceutical company’s stock worth $21,224,000 after acquiring an additional 795,933 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research analyst reports. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Truist Financial reduced their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Guggenheim lowered their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Citigroup reduced their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. One 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Trading Down 2.3 %

Shares of Pfizer stock opened at $25.83 on Friday. 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 50 day moving average price of $26.29 and a 200 day moving average price of $27.78. The company has a market capitalization of $146.35 billion, a P/E ratio of 34.90, a P/E/G ratio of 0.66 and a beta of 0.64. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. Sell-side analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.66%. Pfizer’s dividend payout ratio (DPR) is 232.44%.

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.