GenWealth Group Inc. Purchases New Position in Pfizer Inc. (NYSE:PFE)

by · The Markets Daily

GenWealth Group Inc. bought a new position in Pfizer Inc. (NYSE:PFE – Free Report) in the third quarter, HoldingsChannel reports. The institutional investor bought 9,610 shares of the biopharmaceutical company’s stock, valued at approximately $278,000.

Several other hedge funds have also recently modified their holdings of the business. Olistico Wealth LLC bought a new position in Pfizer during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the second quarter worth approximately $29,000. Quarry LP purchased a new stake in Pfizer during the 2nd quarter valued at $31,000. Creekmur Asset Management LLC bought a new position in shares of Pfizer during the 4th quarter valued at $32,000. Finally, Trivant Custom Portfolio Group LLC boosted its stake in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.3 %

PFE opened at $29.08 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $33.92. The firm has a 50-day simple moving average of $29.02 and a two-hundred day simple moving average of $28.40. The company has a market capitalization of $164.78 billion, a PE ratio of -484.67, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFE – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.78%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is -2,800.00%.

Wall Street Analyst Weigh In

PFE has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Thursday, October 3rd. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Get Our Latest Research Report on PFE

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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