Platform Technology Partners Has $654,000 Stake in Pfizer Inc. (NYSE:PFE)

12 Nov 2024, 12:32 by Renee Jackson · The Cerbat Gem

Platform Technology Partners raised its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 16.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,590 shares of the biopharmaceutical company’s stock after purchasing an additional 3,268 shares during the quarter. Platform Technology Partners’ holdings in Pfizer were worth $654,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PFE. Olistico Wealth LLC purchased a new stake in Pfizer in the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer in the second quarter worth approximately $29,000. Quarry LP acquired a new stake in shares of Pfizer during the second quarter worth approximately $31,000. Financial Connections Group Inc. purchased a new position in Pfizer during the second quarter valued at approximately $34,000. Finally, ESL Trust Services LLC acquired a new position in Pfizer in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 1.8 %

Shares of NYSE:PFE opened at $26.24 on Tuesday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.00. The company has a market cap of $148.70 billion, a P/E ratio of 35.46, a P/E/G ratio of 0.85 and a beta of 0.67. The stock’s 50-day moving average is $28.84 and its 200-day moving average is $28.67.

Pfizer (NYSE:PFE – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the business posted ($0.17) EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities research analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. 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. Barclays upped their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, UBS Group increased their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average price target of $33.58.

View Our Latest Research Report on PFE

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

About Pfizer

(Free Report)

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.