Platform Technology Partners Acquires 3,268 Shares of Pfizer Inc. (NYSE:PFE)

Platform Technology Partners raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 16.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,590 shares of the biopharmaceutical company’s stock after purchasing an additional 3,268 shares during the quarter. Platform Technology Partners’ holdings in Pfizer were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PFE. Massachusetts Financial Services Co. MA lifted its holdings in shares of Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares during the period. Van ECK Associates Corp lifted its holdings in Pfizer by 2.8% during the 3rd quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after purchasing an additional 456,168 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in Pfizer by 4.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock valued at $479,073,000 after buying an additional 658,420 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after buying an additional 470,003 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Pfizer by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after acquiring an additional 544,418 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PFE has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Sanford C. Bernstein began coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Performance

PFE stock opened at $26.24 on Tuesday. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The company has a quick ratio of 0.60, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market cap of $148.70 billion, a P/E ratio of 35.46, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. The business’s fifty day moving average is $28.84 and its 200-day moving average is $28.67.

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, topping the consensus estimate of $0.64 by $0.42. The business 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%. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) EPS. Equities research analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is currently 227.03%.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

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.