OneAscent Financial Services LLC Invests $739,000 in Pfizer Inc. (NYSE:PFE)

OneAscent Financial Services LLC acquired a new position in shares of Pfizer Inc. (NYSE:PFE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,552 shares of the biopharmaceutical company’s stock, valued at approximately $739,000.

Other hedge funds also recently made changes to their positions in the company. Olistico Wealth LLC bought a new stake in Pfizer in the second quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer in the second quarter worth approximately $29,000. Gladius Capital Management LP increased its holdings in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares in the last quarter. Quarry LP bought a new stake in Pfizer in the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. bought a new stake in Pfizer in the second quarter worth approximately $34,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

Shares of Pfizer stock opened at $24.88 on Tuesday. The firm has a market capitalization of $140.97 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. The business’s fifty day simple moving average is $28.55 and its 200 day simple moving average is $28.65. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. As a group, analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 6.75%. Pfizer’s payout ratio is presently 227.03%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PFE shares. Citigroup started coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Sanford C. Bernstein started coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. 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 research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.92.

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.