Massachusetts Wealth Management Has $2.79 Million Position in Pfizer Inc. (NYSE:PFE)

Massachusetts Wealth Management increased its position in shares of Pfizer Inc. (NYSE:PFE) by 34.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,232 shares of the biopharmaceutical company’s stock after acquiring an additional 24,800 shares during the quarter. Pfizer comprises approximately 1.8% of Massachusetts Wealth Management’s investment portfolio, making the stock its 13th biggest holding. Massachusetts Wealth Management’s holdings in Pfizer were worth $2,785,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PFE. Marshall Wace LLP increased its position in shares of Pfizer by 279.3% in the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares in the last quarter. Swedbank AB bought a new stake in shares of Pfizer in the first quarter worth about $172,902,000. International Assets Investment Management LLC acquired a new stake in shares of Pfizer during the third quarter worth about $146,481,000. Pzena Investment Management LLC lifted its holdings in shares of Pfizer by 181.6% during the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after purchasing an additional 4,947,000 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Pfizer by 21.8% in the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after purchasing an additional 2,829,178 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PFE shares. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Citigroup started coverage on shares of Pfizer in a research report on Friday. They issued a “neutral” rating and a $30.00 price objective on the stock. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Up 0.2 %

Shares of Pfizer stock traded up $0.05 on Friday, reaching $28.69. 5,492,934 shares of the company were exchanged, compared to its average volume of 36,749,984. The company has a market capitalization of $162.58 billion, a price-to-earnings ratio of -62.32, a PEG ratio of 1.01 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a one year low of $25.20 and a one year high of $31.54. The company has a 50-day moving average of $29.07 and a 200 day moving average of $28.48.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Pfizer Inc. will post 2.67 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.86%. Pfizer’s dividend payout ratio (DPR) is currently -365.21%.

Pfizer Company 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.