Centricity Wealth Management LLC Buys New Position in Pfizer Inc. (NYSE:PFE)

Centricity Wealth Management LLC purchased a new position in shares of Pfizer Inc. (NYSE:PFE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,021 shares of the biopharmaceutical company’s stock, valued at approximately $80,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in Pfizer during the fourth quarter worth approximately $26,000. Gladius Capital Management LP lifted its stake in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the period. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer during the third quarter worth $35,000. Joseph Group Capital Management grew its position in shares of Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares during the period. Finally, Sierra Ocean LLC acquired a new position in Pfizer in the fourth quarter valued at $34,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Up 1.6 %

NYSE:PFE opened at $26.32 on Friday. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The business’s 50-day moving average is $26.30 and its two-hundred day moving average is $27.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market capitalization of $149.14 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. The business had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s revenue was up 24.7% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. Research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.54%. Pfizer’s dividend payout ratio is 121.99%.

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PFE shares. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Bank of America reissued a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Finally, Truist Financial dropped their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.92.

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.