Bogart Wealth LLC Raises Holdings in Pfizer Inc. (NYSE:PFE)

Bogart Wealth LLC increased its position in shares of Pfizer Inc. (NYSE:PFE) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,752 shares of the biopharmaceutical company’s stock after buying an additional 709 shares during the period. Bogart Wealth LLC’s holdings in Pfizer were worth $6,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Global Assets Advisory LLC purchased a new stake in Pfizer during the first quarter worth $725,000. Atlas Capital Advisors LLC lifted its stake in shares of Pfizer by 54.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 1,702 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 600 shares during the last quarter. Sovereign Financial Group Inc. boosted its position in Pfizer by 12.2% during the first quarter. Sovereign Financial Group Inc. now owns 16,929 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 1,837 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in Pfizer by 149.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 129,868 shares of the biopharmaceutical company’s stock valued at $3,604,000 after purchasing an additional 77,868 shares during the last quarter. Finally, Edge Wealth Management LLC raised its stake in shares of Pfizer by 2.0% during the 1st quarter. Edge Wealth Management LLC now owns 260,180 shares of the biopharmaceutical company’s stock worth $7,220,000 after acquiring an additional 5,121 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. UBS Group increased their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Barclays lifted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Stock Performance

PFE traded down $0.19 during midday trading on Thursday, hitting $28.67. 8,539,837 shares of the company were exchanged, compared to its average volume of 36,790,391. The firm has a market capitalization of $162.46 billion, a price-to-earnings ratio of -481.67, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67. The company’s 50 day simple moving average is $29.07 and its 200 day simple moving average is $28.48. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the previous year, the company posted $0.67 earnings per share. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.86%. Pfizer’s dividend payout ratio is presently -2,800.00%.

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.