Pfizer Inc. (NYSE:PFE) Shares Purchased by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 7.0% during the third quarter, HoldingsChannel reports. The firm owned 18,865 shares of the biopharmaceutical company’s stock after buying an additional 1,238 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Pfizer were worth $546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Olistico Wealth LLC acquired a new position in shares of Pfizer during the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the second quarter worth about $29,000. Quarry LP acquired a new position in shares of Pfizer during the second quarter worth about $31,000. Financial Connections Group Inc. acquired a new position in shares of Pfizer during the second quarter worth about $34,000. Finally, ESL Trust Services LLC acquired a new position in shares of Pfizer during the first quarter worth about $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PFE shares. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Citigroup started coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Performance

Shares of NYSE PFE opened at $27.98 on Wednesday. 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’s 50-day moving average price is $28.99 and its two-hundred day moving average price is $28.65. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The stock has a market capitalization of $158.55 billion, a P/E ratio of 37.81, a P/E/G ratio of 0.89 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued 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. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the company posted ($0.17) earnings per share. Pfizer’s revenue was up 31.2% on a year-over-year basis. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.00%. Pfizer’s dividend payout ratio is currently 227.03%.

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.