Abundance Wealth Counselors Makes New Investment in Pfizer Inc. (NYSE:PFE)

Abundance Wealth Counselors acquired a new stake in Pfizer Inc. (NYSE:PFE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,463 shares of the biopharmaceutical company’s stock, valued at approximately $702,000.

Other institutional investors have also recently modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new position in Pfizer in the 4th quarter worth approximately $26,000. Gladius Capital Management LP raised its holdings in shares of 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 last quarter. Quarry LP acquired a new position in Pfizer during the second quarter valued at $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Pfizer in the third quarter valued at $35,000. Finally, Joseph Group Capital Management grew its position in Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 771 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Down 1.5 %

Shares of PFE stock opened at $26.51 on Friday. 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 $150.20 billion, a P/E ratio of 35.82, a PEG ratio of 0.64 and a beta of 0.64. The stock’s fifty day moving average is $26.27 and its two-hundred day moving average is $27.87. 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 (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) earnings per share. Research analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.49%. Pfizer’s dividend payout ratio is 232.44%.

Analyst Ratings Changes

PFE has been the topic of a number of recent research reports. Truist Financial lowered their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. UBS Group dropped their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. 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 analyst has rated the stock with a sell rating, eight have assigned 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.92.

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.