Secure Asset Management LLC Buys 21,294 Shares of Pfizer Inc. (NYSE:PFE)

Secure Asset Management LLC lifted its stake in Pfizer Inc. (NYSE:PFE) by 32.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 87,874 shares of the biopharmaceutical company’s stock after acquiring an additional 21,294 shares during the period. Secure Asset Management LLC’s holdings in Pfizer were worth $2,331,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new stake in shares of Pfizer in the 4th quarter worth approximately $26,000. Gladius Capital Management LP raised its stake in shares of Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares in the last quarter. Quarry LP bought a new position in Pfizer in the second quarter worth $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer during the third quarter worth $35,000. Finally, Joseph Group Capital Management increased its holdings in Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 771 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.46 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $26.07 and a 200 day simple moving average of $27.96. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The firm has a market cap of $149.94 billion, a P/E ratio of 35.75, 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 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the firm earned ($0.17) EPS. Sell-side analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.50%. Pfizer’s dividend payout ratio is presently 227.03%.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research began coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. Guggenheim lowered their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Bank of America reissued a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Finally, Sanford C. Bernstein started coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.