Valley Wealth Managers Inc. Increases Stake in Pfizer Inc. (NYSE:PFE)

Valley Wealth Managers Inc. boosted its position in shares of Pfizer Inc. (NYSE:PFE) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 678,742 shares of the biopharmaceutical company’s stock after purchasing an additional 28,933 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Pfizer were worth $19,643,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PFE. FAS Wealth Partners Inc. increased its holdings in Pfizer by 1.3% during the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 342 shares during the last quarter. Sachetta LLC lifted its position in Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 342 shares in the last quarter. Wells Trecaso Financial Group LLC increased its position 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 buying an additional 350 shares in the last quarter. Ironvine Capital Partners LLC raised its stake in shares of Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after buying an additional 353 shares during the period. Finally, Secure Asset Management LLC lifted its holdings in Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after purchasing an additional 353 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PFE. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wolfe Research assumed coverage on Pfizer in a report on Friday. They set an “underperform” rating and a $25.00 price target on the stock. Wells Fargo & Company lifted 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. Finally, UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and three have 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 an average price target of $32.92.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Pfizer Trading Down 4.8 %

Shares of NYSE:PFE traded down $1.25 during trading hours on Friday, hitting $24.77. 9,747,602 shares of the company’s stock traded hands, compared to its average volume of 37,684,727. Pfizer Inc. has a 1 year low of $24.52 and a 1 year high of $31.54. The business has a fifty day moving average price of $28.71 and a 200-day moving average price of $28.65. The firm has a market capitalization of $140.37 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

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

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend yield of 6.78%. Pfizer’s payout ratio is 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.