Pfizer Inc. $PFE Stock Bought by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC raised its holdings in Pfizer Inc. (NYSE:PFE) by 4.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 837,455 shares of the biopharmaceutical company’s stock after purchasing an additional 32,367 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Pfizer were worth $23,884,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. BlackRock Inc. increased its position in shares of Pfizer by 6.3% during the 2nd quarter. BlackRock Inc. now owns 529,670,433 shares of the biopharmaceutical company’s stock worth $12,754,464,000 after purchasing an additional 31,412,883 shares during the last quarter. State Street Corp lifted its position in Pfizer by 1.8% in the second quarter. State Street Corp now owns 307,090,897 shares of the biopharmaceutical company’s stock valued at $7,394,749,000 after buying an additional 5,501,032 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Pfizer by 11.1% in the first quarter. Bank of New York Mellon Corp now owns 53,879,900 shares of the biopharmaceutical company’s stock valued at $1,512,948,000 after buying an additional 5,364,929 shares during the last quarter. Bank of America Corp DE purchased a new position in Pfizer during the second quarter worth about $1,049,602,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Pfizer by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 36,422,799 shares of the biopharmaceutical company’s stock valued at $1,022,606,000 after acquiring an additional 293,029 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Up 0.7%

Shares of NYSE:PFE opened at $30.73 on Tuesday. The firm has a market capitalization of $175.16 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.00 and a beta of 0.32. Pfizer Inc. has a 1 year low of $23.62 and a 1 year high of $31.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.27 and a quick ratio of 0.96. The firm’s 50-day moving average is $28.60 and its two-hundred day moving average is $26.82.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.40 billion. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. Analysts predict that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Friday, November 6th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, November 6th. Pfizer’s dividend payout ratio (DPR) is currently 226.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday, October 13th. Bank of America dropped their target price on shares of Pfizer from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Weiss Ratings raised Pfizer from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 31st. Cantor Fitzgerald upped their price target on Pfizer from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Finally, Scotiabank upped their price target on Pfizer from $30.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Five investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Hold” and a consensus target price of $28.65.

Pfizer Profile

Pfizer Inc is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its research activities span areas including oncology, internal medicine, inflammation and immunology, hospital care, infectious diseases and rare diseases.

The company’s portfolio includes medicines such as Eliquis, Ibrance, Prevnar and Vyndaqel, as well as vaccines including Comirnaty, Abrysvo and Prevnar. Pfizer also develops treatments through internal research, licensing agreements and collaborations with other pharmaceutical and biotechnology companies.

Founded in Brooklyn, New York, in 1849 by Charles Pfizer and Charles Erhart, Pfizer has grown into an international healthcare company serving patients and healthcare providers in markets around the world.