Paladin Wealth LLC Makes New $606,000 Investment in Pfizer Inc. (NYSE:PFE)

Paladin Wealth LLC purchased a new stake in shares of Pfizer Inc. (NYSE:PFE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 20,955 shares of the biopharmaceutical company’s stock, valued at approximately $606,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace LLP grew its stake in shares of Pfizer by 279.3% in the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after purchasing an additional 8,378,173 shares during the last quarter. Swedbank AB bought a new stake in Pfizer during the first quarter worth approximately $172,902,000. Pzena Investment Management LLC grew its position in Pfizer by 181.6% in the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after buying an additional 4,947,000 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Pfizer by 21.8% in the first quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after buying an additional 2,829,178 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after acquiring an additional 2,487,919 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE opened at $29.13 on Monday. The business has a fifty day simple moving average of $29.04 and a 200 day simple moving average of $28.39. 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 Inc. has a 1 year low of $25.20 and a 1 year high of $33.92. The firm has a market cap of $165.07 billion, a price-to-earnings ratio of -486.00, a P/E/G ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the company earned $0.67 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business 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 dividend yield of 5.77%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is -2,800.00%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PFE. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Thursday, October 3rd. UBS Group raised their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Daiwa Capital Markets raised shares of 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 note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Company 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.