Harvey Capital Management Inc. Takes $544,000 Position in Pfizer Inc. (NYSE:PFE)

Harvey Capital Management Inc. bought a new position in shares of Pfizer Inc. (NYSE:PFE) in the fourth quarter, HoldingsChannel reports. The firm bought 20,500 shares of the biopharmaceutical company’s stock, valued at approximately $544,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in shares of Pfizer by 117.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 69,178 shares of the biopharmaceutical company’s stock worth $2,002,000 after buying an additional 37,293 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Pfizer by 28.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 23,274 shares of the biopharmaceutical company’s stock valued at $674,000 after buying an additional 5,205 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Pfizer in the third quarter worth $115,000. Fiduciary Alliance LLC lifted its position in shares of Pfizer by 15.5% during the third quarter. Fiduciary Alliance LLC now owns 8,484 shares of the biopharmaceutical company’s stock worth $246,000 after purchasing an additional 1,140 shares during the last quarter. Finally, CX Institutional boosted its stake in shares of Pfizer by 80.1% during the third quarter. CX Institutional now owns 46,207 shares of the biopharmaceutical company’s stock valued at $1,337,000 after purchasing an additional 20,552 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PFE. Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective for the company. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Finally, UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Trading Down 1.3 %

NYSE PFE opened at $25.53 on Wednesday. The firm has a market cap of $144.69 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $26.28 and a 200 day moving average price of $27.65.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared 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. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.74%. Pfizer’s payout ratio is presently 121.99%.

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.