Wealthedge Investment Advisors LLC Acquires New Position in Pfizer Inc. (NYSE:PFE)

Wealthedge Investment Advisors LLC acquired a new stake in Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,785 shares of the biopharmaceutical company’s stock, valued at approximately $207,000.

A number of other hedge funds have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Pfizer by 1.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company’s stock valued at $1,027,000 after purchasing an additional 391 shares during the period. D Orazio & Associates Inc. lifted its position in Pfizer by 5.5% in the fourth quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company’s stock valued at $200,000 after buying an additional 391 shares during the last quarter. Lipe & Dalton lifted its position in Pfizer by 17.7% in the fourth quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 400 shares during the last quarter. Beam Wealth Advisors Inc. lifted its position in Pfizer by 1.5% in the fourth quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company’s stock valued at $728,000 after buying an additional 401 shares during the last quarter. Finally, Providence Capital Advisors LLC lifted its position in Pfizer by 0.4% in the fourth quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company’s stock valued at $3,034,000 after buying an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group upped their target price on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 price target (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Down 1.8%

Shares of NYSE:PFE opened at $23.18 on Thursday. The firm’s 50 day moving average price is $23.22 and its 200 day moving average price is $25.11. The stock has a market cap of $131.79 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two 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.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. The firm had revenue of $13.72 billion for the quarter, compared to analysts’ expectations of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be issued a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.42%. Pfizer’s dividend payout ratio (DPR) is 124.64%.

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.