King Wealth Management Group Has $410,000 Stake in Pfizer Inc. (NYSE:PFE)

King Wealth Management Group lowered its stake in Pfizer Inc. (NYSE:PFE) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,153 shares of the biopharmaceutical company’s stock after selling 1,041 shares during the period. King Wealth Management Group’s holdings in Pfizer were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PFE. Massachusetts Financial Services Co. MA lifted its stake in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after acquiring an additional 456,168 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Pfizer by 4.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock valued at $479,073,000 after purchasing an additional 658,420 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Pfizer by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Pfizer by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after purchasing an additional 544,418 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

PFE stock opened at $26.02 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The stock has a market capitalization of $147.46 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. The company has a 50 day moving average price of $28.76 and a 200 day moving average price of $28.67.

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

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.46%. Pfizer’s payout ratio is 227.03%.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group lifted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Wolfe Research started coverage on Pfizer in a research note on Friday. They issued an “underperform” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

About Pfizer

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.