Pfizer Inc. (NYSE:PFE) Shares Acquired by Straight Path Wealth Management

Straight Path Wealth Management lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,212 shares of the biopharmaceutical company’s stock after acquiring an additional 1,187 shares during the quarter. Pfizer comprises approximately 0.5% of Straight Path Wealth Management’s holdings, making the stock its 26th biggest holding. Straight Path Wealth Management’s holdings in Pfizer were worth $1,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Olistico Wealth LLC acquired a new position in Pfizer in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer in the 2nd quarter worth $29,000. Quarry LP acquired a new position in Pfizer in the 2nd quarter worth $31,000. Financial Connections Group Inc. acquired a new position in Pfizer in the 2nd quarter worth $34,000. Finally, ESL Trust Services LLC acquired a new position in Pfizer in the 1st quarter worth $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Pfizer Stock Performance

PFE traded down $1.22 on Friday, hitting $24.80. 131,074,383 shares of the company’s stock were exchanged, compared to its average volume of 38,229,605. The firm has a market cap of $140.54 billion, a PE ratio of 33.51, a P/E/G ratio of 0.85 and a beta of 0.67. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The stock has a fifty day moving average of $28.64 and a two-hundred day moving average of $28.64. 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 (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business earned ($0.17) earnings per share. Pfizer’s revenue was up 31.2% compared to the same quarter last year. On average, research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 6.77%. Pfizer’s payout ratio is currently 227.03%.

Analyst Ratings Changes

PFE has been the topic of a number of recent analyst reports. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.