Empower Advisory Group LLC Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Empower Advisory Group LLC boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 4.0% in the third quarter, Holdings Channel.com reports. The fund owned 4,029,978 shares of the biopharmaceutical company’s stock after acquiring an additional 153,573 shares during the quarter. Empower Advisory Group LLC’s holdings in Pfizer were worth $116,628,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PFE. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer in the 2nd quarter worth $29,000. Quarry LP purchased a new stake in shares of Pfizer in the 2nd quarter worth $31,000. Financial Connections Group Inc. purchased a new stake in shares of Pfizer in the 2nd quarter worth $34,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Pfizer in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Pfizer Trading Down 0.2 %

Shares of NYSE:PFE opened at $26.18 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business’s 50-day moving average is $28.84 and its 200 day moving average is $28.67. The firm has a market capitalization of $148.36 billion, a P/E ratio of 35.38, a P/E/G ratio of 0.83 and a beta of 0.67. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54.

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, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) EPS. On average, research analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.42%. Pfizer’s payout ratio is presently 227.03%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PFE shares. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company boosted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, 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 price target for the company. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus 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.