Townsend & Associates Inc Boosts Position in Pfizer Inc. (NYSE:PFE)

Townsend & Associates Inc lifted its holdings in Pfizer Inc. (NYSE:PFE) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,210 shares of the biopharmaceutical company’s stock after acquiring an additional 404 shares during the period. Townsend & Associates Inc’s holdings in Pfizer were worth $295,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PFE. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new stake in Pfizer in the second quarter valued at approximately $29,000. Quarry LP purchased a new stake in shares of Pfizer during the second quarter valued at approximately $31,000. Financial Connections Group Inc. purchased a new position in shares of Pfizer in the second quarter valued at $34,000. Finally, ESL Trust Services LLC acquired a new stake in Pfizer during the 1st quarter valued at $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Barclays increased their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Pfizer Stock Down 2.7 %

Shares of Pfizer stock opened at $26.73 on Friday. The stock has a 50-day simple moving average of $28.89 and a 200-day simple moving average of $28.63. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The firm has a market cap of $151.48 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 0.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. On average, equities research analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 6.29%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Pfizer Company 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.