Oppenheimer & Co. Inc. Buys 53,526 Shares of Pfizer Inc. (NYSE:PFE)

Oppenheimer & Co. Inc. grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 8.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 658,388 shares of the biopharmaceutical company’s stock after acquiring an additional 53,526 shares during the period. Oppenheimer & Co. Inc.’s holdings in Pfizer were worth $19,054,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. acquired a new position in shares of Pfizer during the first quarter worth $315,000. GSA Capital Partners LLP acquired a new position in shares of Pfizer during the first quarter worth $439,000. Koshinski Asset Management Inc. lifted its holdings in shares of Pfizer by 20.5% during the first quarter. Koshinski Asset Management Inc. now owns 24,265 shares of the biopharmaceutical company’s stock worth $673,000 after purchasing an additional 4,130 shares during the period. Dearborn Partners LLC lifted its holdings in shares of Pfizer by 18.4% during the first quarter. Dearborn Partners LLC now owns 32,683 shares of the biopharmaceutical company’s stock worth $907,000 after purchasing an additional 5,077 shares during the period. Finally, Private Management Group Inc. lifted its holdings in shares of Pfizer by 270.7% during the first quarter. Private Management Group Inc. now owns 26,579 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 19,409 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.2 %

Shares of NYSE PFE traded down $0.06 during trading on Wednesday, hitting $26.13. 4,382,206 shares of the company traded hands, compared to its average volume of 37,573,504. The business’s fifty day moving average is $28.80 and its 200 day moving average is $28.68. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The firm has a market capitalization of $148.08 billion, a price-to-earnings ratio of 35.32, a P/E/G ratio of 0.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Equities research analysts predict that Pfizer Inc. will post 2.96 earnings per share 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 given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.43%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is presently 227.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Wells Fargo & Company boosted their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.58.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

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.