Straight Path Wealth Management Has $1.31 Million Stock Holdings in Pfizer Inc. $PFE

Key Points

• Straight Path Wealth Management increased its stake in Pfizer Inc. by 43.4% in Q2, owning 54,216 shares worth approximately $1.31 million.
• The company's stock is rated as "Hold" by several analysts, with an average price target set at $28.13.
• Pfizer recently announced a quarterly dividend of $0.43 per share, yielding around 7.1%, to be paid on December 1st.

Straight Path Wealth Management increased its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 43.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,216 shares of the biopharmaceutical company's stock after purchasing an additional 16,409 shares during the quarter. Pfizer makes up about 0.4% of Straight Path Wealth Management's portfolio, making the stock its 27th largest holding. Straight Path Wealth Management's holdings in Pfizer were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GKV Capital Management Co. Inc. acquired a new position in Pfizer in the 1st quarter valued at approximately $27,000. North Capital Inc. acquired a new position in Pfizer in the 1st quarter valued at approximately $28,000. Bayforest Capital Ltd acquired a new position in Pfizer in the 1st quarter valued at approximately $28,000. Harbor Asset Planning Inc. acquired a new position in Pfizer in the 2nd quarter valued at approximately $29,000. Finally, Horizon Financial Services LLC acquired a new position in Pfizer in the 1st quarter valued at approximately $35,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PFE. Wall Street Zen cut shares of Pfizer from a "buy" rating to a "hold" rating in a research report on Sunday, September 28th. Citigroup upped their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Morgan Stanley decreased their price target on shares of Pfizer from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Friday, October 10th. Bank of America upped their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Pfizer in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $28.13.

Pfizer Stock Down 0.7%

Shares of NYSE PFE opened at $24.22 on Friday. The firm has a market cap of $137.70 billion, a PE ratio of 12.88, a P/E/G ratio of 0.81 and a beta of 0.55. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $29.53. The company's fifty day simple moving average is $24.89 and its 200 day simple moving average is $24.12. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.20. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. Pfizer's revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.72 annualized dividend and a yield of 7.1%. Pfizer's dividend payout ratio is currently 91.49%.

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.

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