Summit Wealth Partners LLC Grows Position in Pfizer Inc. (NYSE:PFE)

Summit Wealth Partners LLC lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,937 shares of the biopharmaceutical company’s stock after buying an additional 1,000 shares during the period. Summit Wealth Partners LLC’s holdings in Pfizer were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer during the 2nd quarter valued at about $29,000. Quarry LP purchased a new position in shares of Pfizer during the 2nd quarter valued at about $31,000. Financial Connections Group Inc. purchased a new position in shares of Pfizer during the 2nd quarter valued at about $34,000. Finally, ESL Trust Services LLC purchased a new position in shares of Pfizer during the 1st quarter valued at about $37,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analysts Set New Price Targets

PFE has been the topic of a number of analyst reports. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday. UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Performance

NYSE:PFE opened at $28.29 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54. The stock’s 50 day simple moving average is $29.05 and its two-hundred day simple moving average is $28.56. The company has a market cap of $160.31 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 0.90 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 16.40% and a net margin of 7.07%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced 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. This represents a $1.68 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently 227.03%.

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.