Mine & Arao Wealth Creation & Management LLC. Purchases New Position in Pfizer Inc. (NYSE:PFE)

Mine & Arao Wealth Creation & Management LLC. purchased a new position in shares of Pfizer Inc. (NYSE:PFE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,025 shares of the biopharmaceutical company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beacon Harbor Wealth Advisors Inc. raised its stake in Pfizer by 1.4% in the third quarter. Beacon Harbor Wealth Advisors Inc. now owns 236,210 shares of the biopharmaceutical company’s stock worth $6,836,000 after buying an additional 3,169 shares in the last quarter. Mainstream Capital Management LLC purchased a new stake in shares of Pfizer during the 3rd quarter worth $1,042,000. Portside Wealth Group LLC boosted its holdings in shares of Pfizer by 6.9% in the 3rd quarter. Portside Wealth Group LLC now owns 56,378 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 3,615 shares in the last quarter. Keynote Financial Services LLC grew its position in shares of Pfizer by 4.0% in the 3rd quarter. Keynote Financial Services LLC now owns 68,284 shares of the biopharmaceutical company’s stock worth $1,976,000 after buying an additional 2,607 shares during the last quarter. Finally, Western Pacific Wealth Management LP raised its stake in shares of Pfizer by 10.5% during the 3rd quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock worth $118,000 after acquiring an additional 386 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

Pfizer Stock Up 0.4 %

Pfizer stock opened at $27.46 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $155.62 billion, a P/E ratio of 37.11, a P/E/G ratio of 0.88 and a beta of 0.67. The firm’s fifty day simple moving average is $28.96 and its 200-day simple moving average is $28.64. Pfizer Inc. has a 1-year low of $25.20 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 16.40%. During the same quarter in the previous year, the firm posted ($0.17) EPS. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. Sell-side analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.12%. Pfizer’s payout ratio is 227.03%.

Analyst Ratings Changes

Several brokerages recently weighed in on PFE. 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. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.58.

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.