Shum Financial Group Inc. Buys Shares of 7,655 Pfizer Inc. (NYSE:PFE)

Shum Financial Group Inc. bought a new stake in Pfizer Inc. (NYSE:PFE) during the third quarter, Holdings Channel reports. The institutional investor bought 7,655 shares of the biopharmaceutical company’s stock, valued at approximately $214,000.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Price Performance

NYSE PFE traded down $0.33 during trading hours on Tuesday, reaching $25.84. 5,383,739 shares of the company’s stock were exchanged, compared to its average volume of 38,416,379. The stock has a market cap of $146.44 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 0.82 and a beta of 0.67. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The firm has a fifty day moving average of $28.13 and a 200-day moving average of $28.56. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) EPS. On average, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

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 given a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.50%. Pfizer’s payout ratio is 227.03%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

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.