Waterfront Wealth Inc. Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Waterfront Wealth Inc. raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,422 shares of the biopharmaceutical company’s stock after acquiring an additional 759 shares during the quarter. Waterfront Wealth Inc.’s holdings in Pfizer were worth $356,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PFE. Swiss National Bank raised its stake in Pfizer by 0.6% during the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after buying an additional 100,900 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares during the period. Empowered Funds LLC lifted its holdings in shares of Pfizer by 80.9% in the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock worth $14,709,000 after purchasing an additional 227,349 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Pfizer by 394.2% during the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after acquiring an additional 41,668 shares during the period. Finally, KBC Group NV grew its position in shares of Pfizer by 26.0% during the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock worth $89,872,000 after acquiring an additional 639,985 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PFE shares. UBS Group cut their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Citigroup decreased their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Guggenheim restated a “buy” rating and issued a $33.00 target price on shares of Pfizer in a research report on Monday, February 10th. Truist Financial reduced their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock bought 19,457 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Price Performance

NYSE:PFE opened at $26.32 on Friday. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm has a market cap of $149.14 billion, a P/E ratio of 18.66, a PEG ratio of 0.64 and a beta of 0.64. The business’s 50-day moving average price is $26.30 and its 200 day moving average price is $27.42.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue was up 24.7% compared to the same quarter last year. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 121.99%.

About Pfizer

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.