Wetherby Asset Management Inc. Grows Stock Holdings in Pfizer Inc. (NYSE:PFE)

Wetherby Asset Management Inc. lifted its position in shares of Pfizer Inc. (NYSE:PFEGet Rating) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,540 shares of the biopharmaceutical company’s stock after purchasing an additional 4,053 shares during the period. Wetherby Asset Management Inc.’s holdings in Pfizer were worth $7,483,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Pfizer during the 4th quarter worth approximately $290,000. Rinkey Investments acquired a new stake in Pfizer during the 4th quarter worth $32,000. Worth Asset Management LLC purchased a new stake in Pfizer in the first quarter valued at $29,000. Bivin & Associates Inc. acquired a new position in Pfizer in the fourth quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. grew its holdings in shares of Pfizer by 108.3% during the first quarter. Stuart Chaussee & Associates Inc. now owns 625 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 325 shares during the last quarter. 67.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFE has been the subject of several research reports. SVB Leerink reduced their target price on Pfizer from $55.00 to $53.00 and set a “market perform” rating for the company in a report on Friday, July 29th. JPMorgan Chase & Co. set a $57.00 price objective on Pfizer in a research note on Tuesday, June 28th. Morgan Stanley lowered their target price on shares of Pfizer from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, July 8th. Berenberg Bank set a $50.00 target price on shares of Pfizer in a report on Friday, May 27th. Finally, UBS Group set a $59.00 price target on shares of Pfizer in a research note on Thursday, September 1st. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average target price of $57.33.

Pfizer Price Performance

Shares of PFE opened at $47.84 on Friday. The firm has a market capitalization of $268.49 billion, a PE ratio of 9.36, a P/E/G ratio of 0.59 and a beta of 0.70. The stock’s 50 day moving average is $49.61 and its two-hundred day moving average is $50.46. Pfizer Inc. has a twelve month low of $40.94 and a twelve month high of $61.71. The company has a current ratio of 1.42, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39.

Pfizer (NYSE:PFEGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. The firm had revenue of $27.74 billion for the quarter, compared to the consensus estimate of $26.20 billion. Pfizer had a return on equity of 43.18% and a net margin of 28.92%. The company’s revenue for the quarter was up 46.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 earnings per share. Research analysts anticipate that Pfizer Inc. will post 6.54 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Wednesday, June 29th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Thursday, July 28th. Pfizer’s dividend payout ratio (DPR) is 31.31%.

About Pfizer

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

Further Reading

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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