Pfizer Inc. (NYSE:PFE) Position Raised by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC grew its position in shares of Pfizer Inc. (NYSE:PFE) by 8.1% during the 3rd quarter, Holdings Channel reports. The firm owned 77,912 shares of the biopharmaceutical company’s stock after purchasing an additional 5,854 shares during the period. Cornerstone Wealth Management LLC’s holdings in Pfizer were worth $2,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PFE. Olistico Wealth LLC bought a new stake in Pfizer during the second quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at $29,000. Quarry LP acquired a new position in shares of Pfizer in the 2nd quarter worth $31,000. Trivant Custom Portfolio Group LLC raised its position in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the second quarter valued at $34,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 1.3 %

Shares of PFE opened at $29.28 on Friday. The stock’s 50-day moving average price is $29.05 and its two-hundred day moving average price is $28.42. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $32.68. The company has a market capitalization of $165.89 billion, a PE ratio of -487.92, a PEG ratio of 1.30 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday. They issued a “market perform” rating and a $32.00 price objective for the company. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $33.91.

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.