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

Prestige Wealth Management Group LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 5.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 8,659 shares of the biopharmaceutical company’s stock after selling 489 shares during the period. Prestige Wealth Management Group LLC’s holdings in Pfizer were worth $251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after purchasing an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after buying an additional 12,864,343 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after buying an additional 2,241,609 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Pfizer by 22.4% in the 3rd 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 during the period. Finally, Swiss National Bank increased its stake in shares of 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 in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PFE shares. Wolfe Research initiated coverage on shares of Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Sanford C. Bernstein started coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Citigroup assumed coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Trading Up 1.5 %

NYSE:PFE opened at $26.12 on Tuesday. The company has a 50 day simple moving average of $27.42 and a two-hundred day simple moving average of $28.36. The company has a market cap of $148.02 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion for 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 revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) earnings per share. Research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current 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 $0.42 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.43%. Pfizer’s payout ratio is presently 227.03%.

Pfizer Company 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.