Centric Wealth Management Raises Stock Position in Pfizer Inc. (NYSE:PFE)

Centric Wealth Management lifted its stake in Pfizer Inc. (NYSE:PFE) by 16.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,843 shares of the biopharmaceutical company’s stock after purchasing an additional 11,849 shares during the period. Centric Wealth Management’s holdings in Pfizer were worth $2,228,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. lifted its stake in shares of Pfizer by 10.9% in 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 purchasing an additional 9,393,992 shares during the period. Invesco Ltd. lifted its position in Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after buying an additional 5,678,004 shares during the period. Massachusetts Financial Services Co. MA grew its position 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 worth $1,997,083,000 after buying an additional 5,185,453 shares during the period. Bank of Nova Scotia increased 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 worth $182,567,000 after acquiring an additional 3,780,696 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Pfizer by 33.6% during the 4th quarter. Van ECK Associates Corp now owns 12,984,150 shares of the biopharmaceutical company’s stock valued at $373,813,000 after acquiring an additional 3,265,276 shares during the period. Institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PFE. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Guggenheim assumed coverage on Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.00.

Pfizer Stock Performance

NYSE PFE traded up $0.47 during trading hours on Wednesday, hitting $28.24. 24,330,357 shares of the company’s stock traded hands, compared to its average volume of 43,361,477. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $40.37. The firm has a market capitalization of $159.91 billion, a P/E ratio of -466.42, a P/E/G ratio of 1.17 and a beta of 0.63. The business’s fifty day moving average price is $26.92 and its two-hundred day moving average price is $28.12.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. Pfizer’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. Equities research analysts predict that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

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.