Edge Wealth Management LLC Acquires 500 Shares of Pfizer Inc. (NYSE:PFE)

Edge Wealth Management LLC boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,517 shares of the biopharmaceutical company’s stock after buying an additional 500 shares during the quarter. Edge Wealth Management LLC’s holdings in Pfizer were worth $226,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wells Trecaso Financial Group LLC lifted its position in Pfizer by 2.5% during the 3rd 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. increased its stake in shares of Pfizer by 0.7% in the third 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 period. Cullen Investment Group LTD. boosted its stake in Pfizer by 0.9% during the 3rd quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock valued at $1,235,000 after purchasing an additional 377 shares during the period. PSI Advisors LLC grew its holdings in Pfizer by 1.4% in the 4th 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, MidWestOne Financial Group Inc. lifted its holdings in shares of Pfizer by 1.5% during the second quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock worth $742,000 after buying an additional 386 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE opened at $26.51 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The stock has a 50 day simple moving average of $26.11 and a 200 day simple moving average of $28.01. The firm has a market capitalization of $150.20 billion, a PE ratio of 35.82, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter last year, the firm earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. Sell-side analysts predict that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.49%. Pfizer’s payout ratio is currently 227.03%.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’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 transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup began coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Truist Financial dropped their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Wolfe Research began coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target on the stock. Bank of America restated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Finally, UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer 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.