Concord Asset Management LLC VA Buys New Shares in Pfizer Inc. (NYSE:PFE)

Concord Asset Management LLC VA purchased a new position in shares of Pfizer Inc. (NYSE:PFE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,211 shares of the biopharmaceutical company’s stock, valued at approximately $350,000.

A number of other hedge funds also recently bought and sold shares of PFE. Wells Trecaso Financial Group LLC lifted its stake in Pfizer by 2.5% in the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after acquiring an additional 350 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in shares of Pfizer by 0.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock worth $1,424,000 after purchasing an additional 360 shares during the last quarter. Cullen Investment Group LTD. grew its stake in shares of Pfizer by 0.9% during the third quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock worth $1,235,000 after purchasing an additional 377 shares in the last quarter. PSI Advisors LLC increased its holdings in Pfizer by 1.4% in the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 385 shares during the last quarter. Finally, Western Pacific Wealth Management LP lifted its holdings in Pfizer by 10.5% during the 3rd quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 386 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial cut their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Guggenheim decreased their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Citigroup decreased their target price on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Finally, UBS Group decreased their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Price Performance

NYSE:PFE opened at $26.51 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm has a market cap of $150.20 billion, a price-to-earnings ratio of 35.82, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The company’s 50-day moving average is $26.27 and its two-hundred day moving average is $27.87. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Research analysts expect that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.49%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is 232.44%.

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.