WealthPlan Investment Management LLC Buys 12,634 Shares of Pfizer Inc. (NYSE:PFE)

WealthPlan Investment Management LLC grew its stake in shares of Pfizer Inc. (NYSE:PFEFree Report) by 536.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,989 shares of the biopharmaceutical company’s stock after purchasing an additional 12,634 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Pfizer were worth $497,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its holdings in shares of Pfizer by 89,592.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after purchasing an additional 160,963,976 shares in the last quarter. Norges Bank purchased a new position in shares of Pfizer in the fourth quarter valued at $3,150,472,000. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after buying an additional 9,393,992 shares during the period. Morgan Stanley boosted its stake in Pfizer by 10.3% during the fourth quarter. Morgan Stanley now owns 79,499,361 shares of the biopharmaceutical company’s stock worth $4,073,547,000 after buying an additional 7,419,929 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Pfizer during the first quarter worth $311,238,000. Institutional investors own 68.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Scott Gottlieb bought 3,000 shares of Pfizer stock in a transaction on Friday, December 15th. The stock was acquired at an average cost of $26.47 per share, for a total transaction of $79,410.00. Following the completion of the acquisition, the director now owns 9,000 shares of the company’s stock, valued at approximately $238,230. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PFE shares. UBS Group dropped their price objective on shares of Pfizer from $34.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, December 14th. JPMorgan Chase & Co. decreased their target price on Pfizer from $36.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. Barclays decreased their target price on Pfizer from $34.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, December 14th. Truist Financial decreased their target price on Pfizer from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Finally, TD Cowen downgraded Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research report on Thursday, January 4th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.93.

Read Our Latest Report on PFE

Pfizer Stock Performance

PFE stock opened at $27.56 on Monday. The company has a market capitalization of $155.62 billion, a P/E ratio of 76.56, a PEG ratio of 1.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.38 and a quick ratio of 2.05. The business has a 50-day moving average price of $28.19 and a 200 day moving average price of $31.36. Pfizer Inc. has a 1-year low of $25.76 and a 1-year high of $44.20.

Pfizer (NYSE:PFEGet Free Report) last announced its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.37 billion. Pfizer had a net margin of 3.62% and a return on equity of 10.61%. The firm’s revenue was down 41.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. As a group, equities research analysts forecast that Pfizer Inc. will post 2.23 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, January 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, January 25th. This is an increase from Pfizer’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 6.10%. Pfizer’s payout ratio is currently 466.67%.

Pfizer Profile

(Free Report)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.

Further Reading

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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