Pfizer Inc. (NYSE:PFE) Shares Acquired by Confluence Wealth Services Inc.

by · The Markets Daily

Confluence Wealth Services Inc. lifted its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 1.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 67,694 shares of the biopharmaceutical company’s stock after purchasing an additional 670 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Pfizer were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PFE. China Universal Asset Management Co. Ltd. acquired a new position in Pfizer in the 1st quarter worth approximately $315,000. Norden Group LLC boosted its holdings in shares of Pfizer by 26.8% in the 1st quarter. Norden Group LLC now owns 30,336 shares of the biopharmaceutical company’s stock valued at $842,000 after acquiring an additional 6,404 shares during the last quarter. Lincoln National Corp increased its stake in shares of Pfizer by 5.8% in the first quarter. Lincoln National Corp now owns 142,753 shares of the biopharmaceutical company’s stock worth $3,961,000 after acquiring an additional 7,782 shares during the period. Summit Financial Wealth Advisors LLC raised its holdings in shares of Pfizer by 157.4% during the first quarter. Summit Financial Wealth Advisors LLC now owns 31,302 shares of the biopharmaceutical company’s stock worth $869,000 after purchasing an additional 19,142 shares during the last quarter. Finally, Blume Capital Management Inc. lifted its position in Pfizer by 33.7% during the first quarter. Blume Capital Management Inc. now owns 65,793 shares of the biopharmaceutical company’s stock valued at $1,826,000 after purchasing an additional 16,568 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Trading Down 0.7 %

Shares of Pfizer stock opened at $28.09 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The firm has a market capitalization of $159.18 billion, a PE ratio of 37.96, a P/E/G ratio of 0.90 and a beta of 0.67. The firm’s 50-day moving average price is $29.03 and its 200 day moving average price is $28.59.

Pfizer (NYSE:PFE – Get Free Report) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating 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 the consensus estimate of $14.92 billion. During the same quarter last year, the business posted ($0.17) earnings per share. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, sell-side analysts predict 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 issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PFE. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup assumed coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Barclays raised their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday. Eight research 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.58.

Get Our Latest Research Report on Pfizer

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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.

See Also

Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE – Free Report).