World Equity Group Inc. Acquires 8,190 Shares of Pfizer Inc. (NYSE:PFE)

by · The Cerbat Gem

World Equity Group Inc. raised its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 14.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 65,953 shares of the biopharmaceutical company’s stock after purchasing an additional 8,190 shares during the period. World Equity Group Inc.’s holdings in Pfizer were worth $1,909,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Pfizer by 2.8% during the 3rd quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after acquiring an additional 456,168 shares during the period. Federated Hermes Inc. boosted its position in Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares during the period. National Pension Service boosted its holdings in Pfizer by 18.1% in the 3rd quarter. National Pension Service now owns 11,516,769 shares of the biopharmaceutical company’s stock worth $333,295,000 after buying an additional 1,762,520 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Pfizer by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after purchasing an additional 238,850 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PFE shares. Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Check Out Our Latest Stock Analysis on PFE

Pfizer Price Performance

Shares of NYSE PFE traded down $0.08 during mid-day trading on Monday, reaching $28.01. The company’s stock had a trading volume of 8,506,728 shares, compared to its average volume of 37,117,895. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock has a fifty day moving average of $29.03 and a two-hundred day moving average of $28.62. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The firm has a market capitalization of $158.72 billion, a PE ratio of 37.96, a P/E/G ratio of 0.90 and a beta of 0.67.

Pfizer (NYSE:PFE – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the prior year, the firm earned ($0.17) EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.00%. Pfizer’s dividend payout ratio is 227.03%.

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.

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