Pfizer Inc. (NYSE:PFE) Shares Bought by Acorn Wealth Advisors LLC

Acorn Wealth Advisors LLC lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,196 shares of the biopharmaceutical company’s stock after acquiring an additional 812 shares during the period. Acorn Wealth Advisors LLC’s holdings in Pfizer were worth $377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFE. State Street Corp boosted its stake in Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after buying an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares during the period. Geode Capital Management LLC boosted its position in shares of Pfizer by 1.6% in the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after acquiring an additional 1,855,419 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Pfizer by 22.4% in 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 valued at $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. Finally, Van ECK Associates Corp increased its position 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 purchasing an additional 4,726,549 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PFE shares. Citigroup lowered their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research initiated coverage on Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Finally, Bank of America reissued a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Trading Up 1.4 %

PFE opened at $26.67 on Tuesday. The firm has a market capitalization of $151.14 billion, a P/E ratio of 18.92, a P/E/G ratio of 0.64 and a beta of 0.64. The firm’s 50 day moving average is $26.33 and its 200-day moving average is $27.38. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. 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 6.45%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is currently 121.99%.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

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.