Corrado Advisors LLC Increases Stake in Pfizer Inc. (NYSE:PFE)

Corrado Advisors LLC raised its position in Pfizer Inc. (NYSE:PFE) by 15.2% during the fourth quarter, HoldingsChannel reports. The firm owned 70,974 shares of the biopharmaceutical company’s stock after purchasing an additional 9,357 shares during the period. Corrado Advisors LLC’s holdings in Pfizer were worth $1,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. lifted its position in shares of Pfizer by 0.7% in the third quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after acquiring an additional 360 shares in the last quarter. PSI Advisors LLC lifted its position in shares of Pfizer by 1.4% in the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after acquiring an additional 385 shares in the last quarter. Western Pacific Wealth Management LP lifted its position in shares of Pfizer by 10.5% in the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 386 shares in the last quarter. Waddell & Associates LLC lifted its position in shares of Pfizer by 1.6% in the third quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock valued at $723,000 after acquiring an additional 388 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in Pfizer by 1.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company’s stock worth $1,027,000 after buying an additional 391 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer Price Performance

PFE stock opened at $26.40 on Thursday. 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 Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The firm has a market cap of $149.63 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The stock has a 50-day simple moving average of $26.34 and a 200-day simple moving average of $27.36.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.51%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is 121.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Truist Financial reduced their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Guggenheim reiterated a “buy” rating and set a $33.00 target price on shares of Pfizer in a research report on Monday, February 10th. Finally, Citigroup reduced their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price 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.