Naviter Wealth LLC Raises Position in Pfizer Inc. (NYSE:PFE)

Naviter Wealth LLC raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,033 shares of the biopharmaceutical company’s stock after buying an additional 9,408 shares during the quarter. Naviter Wealth LLC’s holdings in Pfizer were worth $1,593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Pfizer in the 4th quarter worth approximately $274,694,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after buying an additional 6,977,587 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Pfizer by 79.5% during the 4th quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company’s stock valued at $295,760,000 after buying an additional 4,938,209 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Pfizer by 28.5% during the 4th quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after acquiring an additional 4,726,549 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

PFE stock opened at $26.71 on Friday. The stock has a market capitalization of $151.35 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 0.64 and a beta of 0.61. The firm’s 50-day moving average price is $26.30 and its two-hundred day moving average price is $27.24. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54.

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

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, January 24th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.44%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is 121.99%.

Insider Buying and Selling at Pfizer

In related news, Director Ronald E. Blaylock bought 19,457 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PFE shares. Citigroup reduced their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. UBS Group dropped their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Guggenheim reissued a “buy” rating and set a $33.00 price target on shares of Pfizer in a research note on Monday, February 10th. Finally, Bank of America reaffirmed a “neutral” rating and set a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

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.