Private Asset Management Inc. Has $8.58 Million Holdings in Pfizer Inc. (NYSE:PFE)

31 Dec 2023, 15:26 by Sarita Garza · The Markets Daily

Private Asset Management Inc. lessened its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 8.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 258,550 shares of the biopharmaceutical company’s stock after selling 22,927 shares during the quarter. Pfizer makes up approximately 2.0% of Private Asset Management Inc.’s investment portfolio, making the stock its 16th largest holding. Private Asset Management Inc.’s holdings in Pfizer were worth $8,576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. RB Capital Management LLC boosted its holdings in shares of Pfizer by 6.7% during the 1st quarter. RB Capital Management LLC now owns 5,446 shares of the biopharmaceutical company’s stock worth $282,000 after buying an additional 341 shares in the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of Pfizer by 1.1% in the 1st quarter. Ironwood Wealth Management LLC. now owns 36,081 shares of the biopharmaceutical company’s stock worth $1,868,000 after purchasing an additional 400 shares in the last quarter. United Bank lifted its holdings in shares of Pfizer by 0.6% in the 1st quarter. United Bank now owns 46,671 shares of the biopharmaceutical company’s stock worth $2,416,000 after purchasing an additional 290 shares in the last quarter. Ergoteles LLC lifted its holdings in shares of Pfizer by 136.3% in the 1st quarter. Ergoteles LLC now owns 36,766 shares of the biopharmaceutical company’s stock worth $1,903,000 after purchasing an additional 21,209 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Pfizer by 6.4% in the 1st quarter. Mackenzie Financial Corp now owns 1,337,418 shares of the biopharmaceutical company’s stock worth $69,238,000 after purchasing an additional 79,887 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

Insider Buying and Selling

In other news, Director Scott Gottlieb acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average price of $26.47 per share, with a total value of $79,410.00. Following the acquisition, the director now owns 9,000 shares in the company, valued at approximately $238,230. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on PFE. UBS Group cut their target price on Pfizer from $34.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, December 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Pfizer in a report on Monday, December 18th. Jefferies Financial Group upgraded Pfizer from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $39.00 in a report on Monday, October 16th. TheStreet cut Pfizer from a “b-” rating to a “c+” rating in a research note on Monday, September 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Pfizer from $36.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, October 16th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Pfizer currently has an average rating of “Hold” and a consensus price target of $40.35.

View Our Latest Analysis on PFE

Pfizer Stock Performance

Shares of Pfizer stock opened at $28.79 on Friday. Pfizer Inc. has a 1 year low of $25.76 and a 1 year high of $51.60. The firm has a market cap of $162.56 billion, a PE ratio of 15.73, a P/E/G ratio of 2.69 and a beta of 0.61. The stock has a fifty day moving average price of $29.43 and a 200-day moving average price of $33.29. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.38 and a quick ratio of 2.05.

Pfizer (NYSE:PFE – Get Free Report) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.15. Pfizer had a return on equity of 16.72% and a net margin of 15.30%. The firm had revenue of $13.23 billion during the quarter, compared to analyst estimates of $13.77 billion. Equities research analysts anticipate that Pfizer Inc. will post 1.53 EPS for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, January 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, January 25th. This is a positive change from Pfizer’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 5.84%. Pfizer’s dividend payout ratio (DPR) is currently 89.62%.

Pfizer Company Profile

(Free Report)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.

Private Asset Management Inc. Has $8.58 Million Holdings in Pfizer Inc. (NYSE:PFE)

Insider Buying and Selling

Analyst Ratings Changes

Pfizer Stock Performance

Pfizer Increases Dividend

Pfizer Company Profile

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