Pfizer Inc. (NYSE:PFE) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC raised its position in Pfizer Inc. (NYSE:PFE - Free Report) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,029,978 shares of the biopharmaceutical company's stock after purchasing an additional 153,573 shares during the period. Empower Advisory Group LLC owned 0.07% of Pfizer worth $116,628,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Olistico Wealth LLC purchased a new position in Pfizer during the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the second quarter valued at approximately $29,000. Quarry LP purchased a new position in Pfizer in the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. bought a new position in shares of Pfizer in the 2nd quarter worth $34,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Pfizer during the 1st quarter valued at $37,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PFE shares. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 31st. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They set a "neutral" rating and a $30.00 price objective on the stock. 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 target for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Daiwa America upgraded shares of Pfizer from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, August 7th. Eight 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 stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of "Moderate Buy" and an average price target of $33.58.

Pfizer Stock Up 1.1 %

Shares of Pfizer stock traded up $0.30 on Wednesday, reaching $26.49. The company's stock had a trading volume of 20,199,025 shares, compared to its average volume of 37,650,980. The company has a market capitalization of $150.12 billion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 0.83 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The firm's fifty day simple moving average is $28.80 and its two-hundred day simple moving average is $28.68.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to analysts' expectations of $14.92 billion. During the same quarter in the prior year, the business earned ($0.17) EPS. The business's revenue for the quarter was up 31.2% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

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 given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.34%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer's dividend payout ratio is presently 227.03%.

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.