BankPlus Wealth Management LLC Acquires Shares of 14,995 Pfizer Inc. (NYSE:PFE)

BankPlus Wealth Management LLC bought a new position in Pfizer Inc. (NYSE:PFE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,995 shares of the biopharmaceutical company’s stock, valued at approximately $398,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wells Trecaso Financial Group LLC increased its position in shares of Pfizer by 2.5% in the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 350 shares in the last quarter. Washington Trust Advisors Inc. grew its holdings in Pfizer by 0.7% in the third quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after purchasing an additional 360 shares during the period. Cullen Investment Group LTD. increased its holdings in shares of Pfizer by 0.9% during the 3rd quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock worth $1,235,000 after buying an additional 377 shares during the last quarter. PSI Advisors LLC raised its holdings in shares of Pfizer by 1.4% in the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 385 shares during the period. Finally, Western Pacific Wealth Management LP grew its stake in Pfizer by 10.5% during the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 386 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of a number of analyst reports. UBS Group decreased their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Truist Financial reduced their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Guggenheim dropped their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insiders Place Their Bets

In other news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Price Performance

Shares of PFE opened at $26.86 on Tuesday. The company has a market cap of $152.19 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 0.64 and a beta of 0.64. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $26.11 and its 200 day simple moving average is $27.94. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 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 business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the prior year, the business earned ($0.17) EPS. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. On average, research analysts forecast that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a $0.43 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

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.