Pfizer Inc. (NYSE:PFE) Shares Acquired by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 118.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,764 shares of the biopharmaceutical company’s stock after purchasing an additional 159,984 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Pfizer were worth $7,820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of Pfizer by 1.6% during the second quarter. AQR Capital Management LLC now owns 612,429 shares of the biopharmaceutical company’s stock worth $17,068,000 after acquiring an additional 9,435 shares during the period. MidWestOne Financial Group Inc. boosted its holdings in Pfizer by 1.5% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock valued at $742,000 after purchasing an additional 386 shares in the last quarter. Ascent Group LLC increased its position in Pfizer by 23.2% during the 2nd quarter. Ascent Group LLC now owns 50,845 shares of the biopharmaceutical company’s stock worth $1,423,000 after purchasing an additional 9,565 shares during the period. Aviso Wealth Management raised its stake in shares of Pfizer by 0.7% during the 2nd quarter. Aviso Wealth Management now owns 80,848 shares of the biopharmaceutical company’s stock worth $2,262,000 after buying an additional 573 shares in the last quarter. Finally, Forefront Analytics LLC lifted its holdings in shares of Pfizer by 17.0% in the 2nd quarter. Forefront Analytics LLC now owns 15,049 shares of the biopharmaceutical company’s stock valued at $421,000 after buying an additional 2,189 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on PFE shares. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. Citigroup started coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. One equities research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Pfizer Stock Performance

Pfizer stock opened at $26.10 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The stock has a fifty day moving average of $26.11 and a two-hundred day moving average of $27.94. The company has a market capitalization of $147.89 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the business posted ($0.17) EPS. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, analysts anticipate that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.59%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is 227.03%.

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.