Fifth Third Wealth Advisors LLC Raises Stake in Pfizer Inc. (NYSE:PFE)

Fifth Third Wealth Advisors LLC lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 36.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,286 shares of the biopharmaceutical company’s stock after acquiring an additional 19,820 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Pfizer were worth $2,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Olistico Wealth LLC acquired a new position in Pfizer in the 2nd quarter valued at about $25,000. Gladius Capital Management LP lifted its holdings in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in Pfizer in the second quarter worth approximately $29,000. Quarry LP acquired a new stake in Pfizer during the second quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Pfizer in the second quarter valued at $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

PFE stock opened at $25.10 on Wednesday. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The firm has a market capitalization of $142.24 billion, a P/E ratio of 33.92, a P/E/G ratio of 0.79 and a beta of 0.67. 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’s 50-day moving average is $28.45 and its two-hundred day moving average is $28.63.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. Analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays lifted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. Finally, Wells Fargo & Company boosted 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

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.