34,235 Shares of Pfizer Inc. $PFE Purchased by VCI Wealth Management LLC

VCI Wealth Management LLC purchased a new position in Pfizer Inc. (NYSE:PFE) in the third quarter, HoldingsChannel reports. The fund purchased 34,235 shares of the biopharmaceutical company’s stock, valued at approximately $976,000.

Several other institutional investors and hedge funds have also bought and sold shares of PFE. Bank of America Corp DE bought a new stake in Pfizer during the 2nd quarter valued at approximately $1,049,602,000. BlackRock Inc. raised its position in shares of Pfizer by 6.3% in the 2nd quarter. BlackRock Inc. now owns 529,670,433 shares of the biopharmaceutical company’s stock worth $12,754,464,000 after acquiring an additional 31,412,883 shares in the last quarter. Nykredit A S bought a new position in shares of Pfizer in the 2nd quarter worth approximately $205,774,000. Assenagon Asset Management S.A. lifted its stake in shares of Pfizer by 96.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 11,902,374 shares of the biopharmaceutical company’s stock valued at $286,609,000 after purchasing an additional 5,829,204 shares during the period. Finally, State Street Corp lifted its stake in shares of Pfizer by 1.8% in the 2nd quarter. State Street Corp now owns 307,090,897 shares of the biopharmaceutical company’s stock valued at $7,394,749,000 after purchasing an additional 5,501,032 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Price Performance

Shares of NYSE PFE opened at $30.73 on Tuesday. Pfizer Inc. has a fifty-two week low of $23.62 and a fifty-two week high of $31.04. The company has a 50 day simple moving average of $28.60 and a two-hundred day simple moving average of $26.82. The company has a market capitalization of $175.16 billion, a price-to-earnings ratio of 40.44, a P/E/G ratio of 2.00 and a beta of 0.32. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.27.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.09. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. The firm had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same period last year, the business earned $0.78 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Analysts expect that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Friday, November 6th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, November 6th. Pfizer’s dividend payout ratio (DPR) is 226.32%.

Pfizer News Summary

Here are the key news stories impacting Pfizer this week:

• Positive Sentiment: Analysts are watching Pfizer’s obesity pipeline for evidence of a potential long-term growth opportunity. A successful update could help offset concerns about slower growth elsewhere in the business. Pfizer Q3 preview: Analysts look to obesity pipeline amid diverging growth expectations
• Positive Sentiment: Pfizer’s roughly 6% dividend yield continues to appeal to income-oriented investors. At that yield, generating $500 in monthly dividend income would require approximately $106,454 invested, assuming the payout remains unchanged. How To Earn $500 a Month From Pfizer Stock Ahead of Q3 Earnings
• Neutral Sentiment: Pfizer is scheduled to report third-quarter results before the market open on November 3. The consensus forecast calls for earnings per share of $0.73 and revenue of $15.88 billion, making guidance and any changes to full-year expectations especially important. Top Wall Street Forecasters Revamp Pfizer Expectations Ahead Of Q3 Earnings
• Neutral Sentiment: Wall Street views are mixed, while Goldman Sachs expects an essentially in-line quarter. The divided outlook increases the likelihood of a significant stock reaction if Pfizer’s results or pipeline commentary differ from expectations. Pfizer Q3 preview: Goldman sees in-line quarter, pipeline in focus
• Negative Sentiment: The expected $0.73 quarterly EPS would be below the year-earlier result, signaling continued earnings pressure even though projected revenue of $15.88 billion would represent a solid quarterly base. What to expect from Pfizer’s Q3 earnings

Analyst Ratings Changes

PFE has been the topic of several research reports. Cantor Fitzgerald lifted their price target on Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. BMO Capital Markets decreased their price objective on Pfizer from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Scotiabank raised their price objective on Pfizer from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. HSBC raised their price objective on Pfizer from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, September 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, October 9th. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.65.

Pfizer Profile

Pfizer Inc is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its research activities span areas including oncology, internal medicine, inflammation and immunology, hospital care, infectious diseases and rare diseases.

The company’s portfolio includes medicines such as Eliquis, Ibrance, Prevnar and Vyndaqel, as well as vaccines including Comirnaty, Abrysvo and Prevnar. Pfizer also develops treatments through internal research, licensing agreements and collaborations with other pharmaceutical and biotechnology companies.

Founded in Brooklyn, New York, in 1849 by Charles Pfizer and Charles Erhart, Pfizer has grown into an international healthcare company serving patients and healthcare providers in markets around the world.