Acorn Wealth Advisors LLC Grows Stock Position in Pfizer Inc. (NYSE:PFE)

Acorn Wealth Advisors LLC increased its position in shares of Pfizer Inc. (NYSE:PFE) by 5.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,384 shares of the biopharmaceutical company’s stock after purchasing an additional 679 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Pfizer were worth $387,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC purchased a new position in Pfizer during the second quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer in the second quarter valued at about $29,000. Gladius Capital Management LP raised its stake in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP acquired a new position in Pfizer in the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the 2nd quarter worth approximately $34,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

Pfizer stock traded up $0.62 during midday trading on Monday, reaching $26.27. The company’s stock had a trading volume of 7,008,560 shares, compared to its average volume of 38,351,328. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The firm has a market capitalization of $148.87 billion, a PE ratio of 34.66, a P/E/G ratio of 0.82 and a beta of 0.67. The stock’s 50 day simple moving average is $28.21 and its 200 day simple moving average is $28.57.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the business posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.40%. Pfizer’s payout ratio is 227.03%.

Analyst Ratings Changes

A number of research firms recently commented on PFE. Wolfe Research initiated coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $32.92.

Insider Activity

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

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.