Magnus Financial Group LLC Has $1.28 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

Magnus Financial Group LLC increased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 13.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,076 shares of the biopharmaceutical company’s stock after purchasing an additional 5,320 shares during the period. Magnus Financial Group LLC’s holdings in Pfizer were worth $1,276,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Olistico Wealth LLC bought a new stake in shares of Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in Pfizer in the second quarter worth $29,000. Quarry LP bought a new stake in Pfizer in the second quarter valued at $31,000. Creekmur Asset Management LLC acquired a new position in shares of Pfizer during the fourth quarter valued at about $32,000. Finally, Trivant Custom Portfolio Group LLC boosted its position in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Up 1.3 %

Pfizer stock traded up $0.38 during midday trading on Tuesday, hitting $29.46. 28,990,331 shares of the stock were exchanged, compared to its average volume of 37,275,195. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $166.94 billion, a price-to-earnings ratio of -494.00, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $33.92. The business’s 50-day moving average price is $29.02 and its 200-day moving average price is $28.40.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. On average, research analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is -2,800.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

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.