DORCHESTER WEALTH MANAGEMENT Co Acquires 12,690 Shares of Pfizer Inc. (NYSE:PFE)

DORCHESTER WEALTH MANAGEMENT Co grew its holdings in Pfizer Inc. (NYSE:PFE) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 294,312 shares of the biopharmaceutical company’s stock after acquiring an additional 12,690 shares during the quarter. Pfizer accounts for approximately 1.5% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 24th biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Pfizer were worth $8,517,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Marshall Wace LLP raised its stake in Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares in the last quarter. Swedbank AB acquired a new position in Pfizer in the first quarter valued at about $172,902,000. International Assets Investment Management LLC acquired a new position in Pfizer in the third quarter valued at about $146,481,000. Pzena Investment Management LLC raised its stake 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 valued at $212,855,000 after purchasing an additional 4,947,000 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in 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 purchasing an additional 2,829,178 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Price Performance

NYSE PFE traded up $0.04 during trading hours on Thursday, hitting $28.90. The company had a trading volume of 2,375,667 shares, compared to its average volume of 36,760,469. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The firm has a 50 day simple moving average of $29.07 and a 200 day simple moving average of $28.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market capitalization of $163.76 billion, a price-to-earnings ratio of -481.00, a PEG ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. Equities research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend yield of 5.81%. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

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.