Pines Wealth Management LLC Invests $306,000 in Pfizer Inc. (NYSE:PFE)

Pines Wealth Management LLC bought a new stake in Pfizer Inc. (NYSE:PFE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,442 shares of the biopharmaceutical company’s stock, valued at approximately $306,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank increased its position in Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after purchasing an additional 100,900 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Pfizer by 80.9% in the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock valued at $14,709,000 after acquiring an additional 227,349 shares during the period. Addison Advisors LLC lifted its holdings in shares of Pfizer by 394.2% during the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after acquiring an additional 41,668 shares in the last quarter. Finally, KBC Group NV boosted its position in Pfizer by 26.0% during the 3rd quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock worth $89,872,000 after purchasing an additional 639,985 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Down 0.6 %

NYSE:PFE opened at $26.25 on Thursday. The firm has a market capitalization of $148.76 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $26.13 and a 200-day moving average of $28.03.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. Analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.55%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is presently 232.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PFE shares. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Bank of America reiterated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Finally, Wolfe Research assumed coverage on Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Insider Activity

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.