Prestige Wealth Management Group LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Prestige Wealth Management Group LLC reduced its position in Pfizer Inc. (NYSE:PFE) by 5.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,659 shares of the biopharmaceutical company’s stock after selling 489 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Pfizer were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Pfizer Stock Performance

Pfizer stock opened at $26.12 on Tuesday. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a market cap of $148.02 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. The firm’s fifty day moving average price is $27.42 and its 200-day moving average price is $28.36.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) EPS. On average, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.43%. Pfizer’s payout ratio is 227.03%.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Citigroup started coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Wolfe Research began coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.92.

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.