Pfizer Inc. (NYSE:PFE) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 695,406 shares of the biopharmaceutical company’s stock after buying an additional 32,866 shares during the period. Pfizer accounts for 1.3% of Sound Income Strategies LLC’s investment portfolio, making the stock its 22nd largest position. Sound Income Strategies LLC’s holdings in Pfizer were worth $20,125,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the company. FIL Ltd grew its position in shares of Pfizer by 97.1% in the 4th quarter. FIL Ltd now owns 7,582,518 shares of the biopharmaceutical company’s stock valued at $218,301,000 after buying an additional 3,734,595 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new position in Pfizer during the fourth quarter worth about $86,000. Novak & Powell Financial Services Inc. purchased a new stake in Pfizer in the 4th quarter valued at approximately $373,000. V Square Quantitative Management LLC increased its position in Pfizer by 260.1% during the 4th quarter. V Square Quantitative Management LLC now owns 20,985 shares of the biopharmaceutical company’s stock worth $604,000 after purchasing an additional 15,158 shares in the last quarter. Finally, Sierra Summit Advisors LLC purchased a new stake in shares of Pfizer during the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PFE. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Thursday, October 3rd. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Barclays increased their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Trading Down 0.6 %

Pfizer stock traded down $0.18 during midday trading on Friday, hitting $29.16. 29,617,610 shares of the stock were exchanged, compared to its average volume of 37,393,754. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $33.92. The stock has a market capitalization of $165.24 billion, a PE ratio of -486.00, a P/E/G ratio of 1.30 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $29.04 and a two-hundred day simple moving average of $28.38.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. Equities research analysts anticipate that Pfizer Inc. will post 2.66 EPS 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 issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is -2,800.00%.

Pfizer Profile

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.