Means Investment CO. Inc. Increases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Means Investment CO. Inc. lifted its position in Pfizer Inc. (NYSE:PFE) by 53.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,312 shares of the biopharmaceutical company’s stock after purchasing an additional 21,939 shares during the quarter. Means Investment CO. Inc.’s holdings in Pfizer were worth $1,832,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer during the second quarter valued at about $29,000. Quarry LP purchased a new stake in shares of Pfizer in the 2nd quarter valued at approximately $31,000. 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 during the period. Finally, Financial Connections Group Inc. purchased a new position in shares of Pfizer during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE opened at $29.22 on Friday. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The firm’s fifty day simple moving average is $29.07 and its 200-day simple moving average is $28.44. The firm has a market capitalization of $165.58 billion, a price-to-earnings ratio of -487.00, a PEG ratio of 1.02 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

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

Pfizer Announces Dividend

The business also recently declared 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 of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.75%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PFE shares. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. UBS Group increased their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Barclays increased their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $33.91.

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.