Gateway Wealth Partners LLC Invests $932,000 in Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Jun 15th, 2023

Gateway Wealth Partners LLC acquired a new position in Pfizer Inc. (NYSE:PFE – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,189 shares of the biopharmaceutical company’s stock, valued at approximately $932,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Pfizer by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 493,584,761 shares of the biopharmaceutical company’s stock worth $21,599,270,000 after purchasing an additional 5,139,634 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Pfizer by 89,592.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock worth $8,257,000,000 after purchasing an additional 160,963,976 shares in the last quarter. Morgan Stanley grew its position in Pfizer by 10.3% in the 4th quarter. Morgan Stanley now owns 79,499,361 shares of the biopharmaceutical company’s stock worth $4,073,547,000 after purchasing an additional 7,419,929 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Pfizer by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,340,479 shares of the biopharmaceutical company’s stock worth $3,741,204,000 after purchasing an additional 3,216,573 shares in the last quarter. Finally, Norges Bank bought a new stake in Pfizer in the 4th quarter worth about $3,150,472,000. 67.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PFE shares. Bank of America dropped their target price on shares of Pfizer from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, April 21st. Jefferies Financial Group started coverage on shares of Pfizer in a research note on Monday, March 6th. They issued a “hold” rating and a $43.00 target price on the stock. Daiwa Capital Markets cut shares of Pfizer from an “outperform” rating to a “neutral” rating and set a $38.00 target price on the stock. in a research note on Thursday, May 11th. Morgan Stanley dropped their target price on shares of Pfizer from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, April 10th. Finally, UBS Group dropped their target price on shares of Pfizer from $41.00 to $39.00 in a research note on Friday, May 5th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.33.

Insider Buying and Selling

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average price of $38.58 per share, with a total value of $38,580.00. Following the acquisition, the director now owns 6,000 shares of the company’s stock, valued at approximately $231,480. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Pfizer Inc purchased 1,811,594 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were purchased at an average price of $2.76 per share, with a total value of $4,999,999.44. Following the acquisition, the insider now directly owns 5,952,263 shares of the company’s stock, valued at $16,428,245.88. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was bought at an average cost of $38.58 per share, for a total transaction of $38,580.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at $231,480. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,813,594 shares of company stock valued at $5,076,999. Company insiders own 0.05% of the company’s stock.

Pfizer Stock Performance

Pfizer stock opened at $39.35 on Thursday. The firm’s 50 day simple moving average is $39.02 and its 200 day simple moving average is $43.21. The company has a current ratio of 1.37, a quick ratio of 1.11 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $222.14 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 1.32 and a beta of 0.64. Pfizer Inc. has a 1-year low of $36.17 and a 1-year high of $54.93.

Pfizer (NYSE:PFE – Get Rating) last posted its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.23. The business had revenue of $18.28 billion for the quarter, compared to analyst estimates of $16.49 billion. Pfizer had a net margin of 31.25% and a return on equity of 37.53%. Pfizer’s revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 EPS. As a group, analysts expect that Pfizer Inc. will post 3.35 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 12th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, May 11th. Pfizer’s dividend payout ratio (DPR) is presently 32.28%.

About Pfizer

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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