Summit Financial Wealth Advisors LLC Purchases 9,020 Shares of Pfizer Inc. (NYSE:PFE)

Summit Financial Wealth Advisors LLC increased its position in shares of Pfizer Inc. (NYSE:PFE) by 13.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 78,197 shares of the biopharmaceutical company’s stock after purchasing an additional 9,020 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Pfizer were worth $2,263,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PFE. Olistico Wealth LLC bought a new position in shares of Pfizer in the 2nd quarter valued at $25,000. Gladius Capital Management LP grew its position in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in Pfizer during the second quarter worth about $29,000. Quarry LP bought a new position in shares of Pfizer in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer in the 2nd quarter valued at approximately $34,000. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFE has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company raised their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Stock Up 2.0 %

Shares of Pfizer stock opened at $26.17 on Tuesday. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. 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 stock’s 50-day moving average is $28.13 and its 200 day moving average is $28.56. The firm has a market cap of $148.31 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 0.82 and a beta of 0.67.

Pfizer (NYSE:PFE) last released 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 company had revenue of $17.70 billion during 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%. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) EPS. Equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Activity

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through 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.