Montz Harcus Wealth Management LLC Grows Position in Pfizer Inc. (NYSE:PFE)

Montz Harcus Wealth Management LLC raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,317 shares of the biopharmaceutical company’s stock after buying an additional 1,062 shares during the period. Montz Harcus Wealth Management LLC’s holdings in Pfizer were worth $241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Conscious Wealth Investments LLC increased its holdings in Pfizer by 0.4% in the 3rd quarter. Conscious Wealth Investments LLC now owns 101,870 shares of the biopharmaceutical company’s stock valued at $2,940,000 after purchasing an additional 437 shares in the last quarter. OMNI 360 Wealth Inc. purchased a new stake in shares of Pfizer in the third quarter worth about $213,000. TCV Trust & Wealth Management Inc. grew its stake in shares of Pfizer by 1.3% in the third quarter. TCV Trust & Wealth Management Inc. now owns 34,098 shares of the biopharmaceutical company’s stock valued at $987,000 after buying an additional 450 shares in the last quarter. Bristlecone Advisors LLC raised its holdings in shares of Pfizer by 27.7% during the 3rd quarter. Bristlecone Advisors LLC now owns 116,556 shares of the biopharmaceutical company’s stock valued at $3,373,000 after buying an additional 25,281 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Pfizer by 1.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,398,373 shares of the biopharmaceutical company’s stock worth $214,684,000 after acquiring an additional 83,564 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE:PFE traded down $0.19 on Friday, reaching $28.45. 26,091,111 shares of the company’s stock were exchanged, compared to its average volume of 36,849,277. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The business’s 50-day moving average is $29.08 and its two-hundred day moving average is $28.51. 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 firm has a market capitalization of $161.21 billion, a price-to-earnings ratio of -474.17, a PEG ratio of 1.01 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. As a group, equities research analysts forecast that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.91%. Pfizer’s payout ratio is currently -2,800.00%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PFE. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. UBS Group raised their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.58.

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.