SteelPeak Wealth LLC Buys 121,889 Shares of Pfizer Inc. (NYSE:PFE)

SteelPeak Wealth LLC increased its position in shares of Pfizer Inc. (NYSE:PFE) by 237.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,317 shares of the biopharmaceutical company’s stock after acquiring an additional 121,889 shares during the quarter. SteelPeak Wealth LLC’s holdings in Pfizer were worth $5,016,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PFE. Olistico Wealth LLC acquired a new position in Pfizer during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer during the 2nd quarter worth $29,000. Quarry LP bought a new stake in Pfizer during the second quarter worth about $31,000. Financial Connections Group Inc. bought a new position in Pfizer in the second quarter valued at approximately $34,000. Finally, ESL Trust Services LLC bought a new stake in shares of Pfizer during the 1st quarter worth $37,000. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Performance

PFE stock traded down $0.15 during midday trading on Wednesday, reaching $28.31. 19,724,411 shares of the company’s stock traded hands, compared to its average volume of 37,078,656. The stock’s 50-day moving average is $29.07 and its 200 day moving average is $28.56. The stock has a market cap of $160.42 billion, a P/E ratio of -61.59, a PEG ratio of 0.99 and a beta of 0.67. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, analysts anticipate that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued 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 5.93%. Pfizer’s dividend payout ratio is presently -365.21%.

Pfizer Company 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.