Nicholas Hoffman & Company LLC. Increases Stock Position in Pfizer Inc. (NYSE:PFE)

Nicholas Hoffman & Company LLC. raised its position in Pfizer Inc. (NYSE:PFE) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,763 shares of the biopharmaceutical company’s stock after acquiring an additional 533 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Pfizer were worth $1,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LGT Group Foundation lifted its holdings in Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after buying an additional 18,274 shares during the period. Creative Planning lifted its stake in Pfizer by 17.1% in the third quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after acquiring an additional 266,167 shares during the period. ORG Partners LLC boosted its holdings in Pfizer by 1,729.9% in the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after acquiring an additional 44,458 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Pfizer by 10.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock valued at $7,422,000 after purchasing an additional 23,928 shares during the period. Finally, Everett Harris & Co. CA raised its holdings in Pfizer by 21.7% in the 3rd quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock worth $6,319,000 after purchasing an additional 38,870 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Down 1.4 %

Shares of NYSE PFE opened at $28.47 on Wednesday. The firm’s 50 day moving average price is $29.07 and its 200-day moving average price is $28.56. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company has a market cap of $161.33 billion, a PE ratio of -61.89, a P/E/G ratio of 0.99 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.90%. Pfizer’s dividend payout ratio (DPR) is presently -365.21%.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.58.

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.