NewSquare Capital LLC Buys 6,832 Shares of Pfizer Inc. $PFE

NewSquare Capital LLC raised its stake in Pfizer Inc. (NYSE:PFE) by 4.4% during the second quarter, HoldingsChannel.com reports. The fund owned 161,980 shares of the biopharmaceutical company’s stock after purchasing an additional 6,832 shares during the quarter. NewSquare Capital LLC’s holdings in Pfizer were worth $3,880,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GKV Capital Management Co. Inc. purchased a new position in shares of Pfizer in the 1st quarter worth $27,000. Curio Wealth LLC boosted its stake in shares of Pfizer by 36,600.0% during the 2nd quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,098 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Pfizer during the 1st quarter worth about $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Pfizer during the 2nd quarter worth about $29,000. Finally, WPG Advisers LLC purchased a new stake in Pfizer in the 1st quarter valued at about $35,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 0.2%

PFE stock opened at $24.69 on Tuesday. The firm’s fifty day simple moving average is $24.76 and its 200-day simple moving average is $24.31. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $28.14. The company has a market capitalization of $140.40 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.81 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, November 7th. This represents a $1.72 dividend on an annualized basis and a yield of 7.0%. Pfizer’s dividend payout ratio is currently 91.49%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Pfizer in a research report on Wednesday, October 8th. Bank of America boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. UBS Group reiterated a “neutral” rating and set a $28.00 price objective on shares of Pfizer in a research note on Wednesday, October 1st. Finally, Morgan Stanley reduced their price objective on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.24.

Pfizer 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.