Gilliland Jeter Wealth Management LLC Takes $962,000 Position in Pfizer Inc. (NYSE:PFE)

Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Pfizer Inc. (NYSE:PFE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 33,411 shares of the biopharmaceutical company’s stock, valued at approximately $962,000.

Several other institutional investors have also made changes to their positions in PFE. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pfizer by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after buying an additional 9,393,992 shares during the last quarter. Invesco Ltd. raised its stake in shares of Pfizer by 30.9% in the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after acquiring an additional 5,678,004 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Pfizer by 9.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock valued at $1,997,083,000 after acquiring an additional 5,185,453 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Pfizer by 219.4% in the 3rd quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock valued at $182,567,000 after acquiring an additional 3,780,696 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Pfizer by 38.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,028,940 shares of the biopharmaceutical company’s stock valued at $332,660,000 after acquiring an additional 2,807,846 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Performance

Shares of PFE traded up $0.14 on Friday, reaching $25.40. 46,526,457 shares of the stock traded hands, compared to its average volume of 34,120,812. The firm has a market cap of $143.83 billion, a price-to-earnings ratio of 70.56, a P/E/G ratio of 1.14 and a beta of 0.61. 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 Inc. has a 12 month low of $25.20 and a 12 month high of $40.37. The stock’s 50-day moving average price is $26.96 and its 200-day moving average price is $28.39.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. The business had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. Pfizer’s quarterly revenue was down 41.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. Equities analysts forecast that Pfizer Inc. will post 2.24 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.61%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio is 466.67%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PFE. Guggenheim began coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective on the stock. TD Cowen downgraded Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research note on Thursday, January 4th. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Pfizer has an average rating of “Hold” and an average target price of $36.33.

Pfizer Company Profile

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.