RKL Wealth Management LLC Acquires 6,340 Shares of Pfizer Inc. (NYSE:PFE)

RKL Wealth Management LLC increased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 41.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,534 shares of the biopharmaceutical company’s stock after acquiring an additional 6,340 shares during the quarter. RKL Wealth Management LLC’s holdings in Pfizer were worth $571,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PFE. Charles Schwab Investment Management Inc. increased its position in Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after acquiring an additional 25,315,159 shares during the period. Raymond James Financial Inc. bought a new position in Pfizer during the fourth quarter worth about $274,694,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Pfizer by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after buying an additional 6,977,587 shares in the last quarter. Fisher Asset Management LLC grew its stake in Pfizer by 79.5% during the fourth quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company’s stock worth $295,760,000 after buying an additional 4,938,209 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Pfizer by 28.5% during the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after buying an additional 4,726,549 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Up 1.8 %

NYSE:PFE opened at $26.71 on Friday. The firm’s 50 day simple moving average is $26.30 and its 200 day simple moving average is $27.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company has a market cap of $151.35 billion, a PE ratio of 18.94, a P/E/G ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same period last year, the company earned $0.10 EPS. The firm’s revenue was up 24.7% compared to the same quarter last year. On average, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, January 24th were given a dividend of $0.43 per share. The ex-dividend date was Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.44%. Pfizer’s dividend payout ratio (DPR) is currently 121.99%.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PFE. Guggenheim reiterated a “buy” rating and set a $33.00 price objective on shares of Pfizer in a research note on Monday, February 10th. Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. Truist Financial reduced their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. UBS Group reduced their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup reduced their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.92.

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.