Alpha Omega Wealth Management LLC Purchases 1,915 Shares of Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Jul 3rd, 2023

Alpha Omega Wealth Management LLC boosted its position in Pfizer Inc. (NYSE:PFE – Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,907 shares of the biopharmaceutical company’s stock after acquiring an additional 1,915 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Pfizer were worth $4,647,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Pfizer by 1.1% during 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 stake in shares of Pfizer by 89,592.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock worth $8,257,000,000 after buying an additional 160,963,976 shares during the last quarter. Morgan Stanley increased its holdings in shares of Pfizer by 10.3% during the fourth quarter. Morgan Stanley now owns 79,499,361 shares of the biopharmaceutical company’s stock worth $4,073,547,000 after buying an additional 7,419,929 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $3,741,204,000 after acquiring an additional 3,216,573 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Pfizer during the 4th quarter valued at $3,150,472,000. 67.80% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of PFE opened at $36.68 on Monday. The firm has a market cap of $207.07 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 1.22 and a beta of 0.61. Pfizer Inc. has a 52-week low of $35.76 and a 52-week high of $54.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 1.37. The business’s 50 day moving average price is $38.32 and its two-hundred day moving average price is $42.05.

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

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, July 28th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Thursday, July 27th. Pfizer’s dividend payout ratio (DPR) is currently 32.28%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was purchased at an average price of $38.42 per share, for a total transaction of $38,420.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $192,100. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PFE shares. Wells Fargo & Company dropped their target price on Pfizer from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, March 17th. Bank of America cut their target price on shares of Pfizer from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, April 21st. Jefferies Financial Group started coverage on shares of Pfizer in a research note on Monday, March 6th. They set a “hold” rating and a $43.00 price target for the company. Morgan Stanley cut their price target on shares of Pfizer from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, April 10th. Finally, StockNews.com lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Pfizer has a consensus rating of “Hold” and an average target price of $46.67.

About Pfizer

(Free Report)

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.