Pfizer Inc. (NYSE:PFE) Position Boosted by Wahed Invest LLC

Wahed Invest LLC grew its position in Pfizer Inc. (NYSE:PFEFree Report) by 10.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,910 shares of the biopharmaceutical company’s stock after purchasing an additional 8,324 shares during the quarter. Pfizer makes up approximately 1.0% of Wahed Invest LLC’s portfolio, making the stock its 19th largest holding. Wahed Invest LLC’s holdings in Pfizer were worth $2,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PFE. Truist Financial Corp grew its stake in shares of Pfizer by 1.9% in the third quarter. Truist Financial Corp now owns 3,994,764 shares of the biopharmaceutical company’s stock worth $132,506,000 after acquiring an additional 74,746 shares during the last quarter. Insigneo Advisory Services LLC boosted its stake in Pfizer by 6.8% during the third quarter. Insigneo Advisory Services LLC now owns 59,528 shares of the biopharmaceutical company’s stock worth $1,975,000 after buying an additional 3,801 shares in the last quarter. Gateway Advisory LLC boosted its stake in Pfizer by 13.5% during the third quarter. Gateway Advisory LLC now owns 8,495 shares of the biopharmaceutical company’s stock worth $282,000 after buying an additional 1,008 shares in the last quarter. Hodges Capital Management Inc. acquired a new stake in Pfizer during the third quarter worth $203,000. Finally, Logan Capital Management Inc. boosted its stake in Pfizer by 9.9% during the third quarter. Logan Capital Management Inc. now owns 488,457 shares of the biopharmaceutical company’s stock worth $16,202,000 after buying an additional 44,067 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PFE shares. Truist Financial decreased their price target on shares of Pfizer from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Friday. UBS Group reduced their target price on shares of Pfizer from $34.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, December 14th. Barclays reduced their target price on shares of Pfizer from $34.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 14th. Finally, TD Cowen downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research note on Thursday, January 4th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and a consensus target price of $36.88.

Check Out Our Latest Stock Report on PFE

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 3,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were bought at an average price of $26.47 per share, for a total transaction of $79,410.00. Following the purchase, the director now directly owns 9,000 shares in the company, valued at approximately $238,230. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.05% of the company’s stock.

Pfizer Trading Up 0.2 %

Shares of Pfizer stock traded up $0.05 during trading on Friday, hitting $26.61. 27,443,155 shares of the company were exchanged, compared to its average volume of 41,944,484. The firm has a market capitalization of $150.26 billion, a P/E ratio of 73.86, a price-to-earnings-growth ratio of 1.21 and a beta of 0.62. Pfizer Inc. has a 1-year low of $25.76 and a 1-year high of $42.22. The firm’s fifty day moving average price is $28.00 and its 200 day moving average price is $30.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69.

Pfizer (NYSE:PFEGet Free Report) last posted its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.37 billion. During the same period in the previous year, the company earned $1.14 EPS. The company’s revenue for the quarter was down 41.3% compared to the same quarter last year. As a group, sell-side analysts expect that Pfizer Inc. will post 2.22 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, January 26th will be given a $0.42 dividend. The ex-dividend date is Thursday, January 25th. This is a positive change from Pfizer’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 6.31%. Pfizer’s payout ratio is currently 466.67%.

About Pfizer

(Free Report)

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.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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