Newbridge Financial Services Group Inc. Acquires Position in Pfizer Inc.

Newbridge Financial Services Group Inc. has recently acquired a new position in Pfizer Inc. (NYSE:PFE) during the fourth quarter, as revealed in its latest filing with the Securities and Exchange Commission (SEC). The fund purchased 14,904 shares of the biopharmaceutical company, which are valued at approximately $395,000.

Activity from Other Institutional Investors

In addition to Newbridge, other institutional investors have also been actively adjusting their stakes in Pfizer. Ritholtz Wealth Management increased its holdings by 26.3% in the third quarter, now owning 55,267 shares valued at $1,599,000 after adding 11,519 shares during the last quarter. Another firm, Retirement Planning Group LLC, entered the market with a new position estimated at $354,000 in the same period. Meanwhile, Exchange Traded Concepts LLC raised its stake by an impressive 117.0%, now holding 69,178 shares worth $2,002,000 following the acquisition of an additional 37,293 shares. Essex Investment Management Co. LLC also acquired a new position valued at about $4,370,000, while McGlone Suttner Wealth Management Inc. increased its holdings by 17.7%, now owning 15,378 shares worth $445,000 after purchasing 2,311 more shares last quarter. Overall, approximately 68.36% of Pfizer's stock is owned by institutional investors and hedge funds.

Analyst Ratings and Price Targets

Various brokerages have recently issued reports regarding Pfizer’s stock. StockNews.com downgraded the stock from a "strong-buy" to a "buy" on November 20th. UBS Group reduced its price target from $31.00 to $29.00, assigning a "neutral" rating. Similarly, Truist Financial lowered its price objective from $36.00 to $32.00 while maintaining a "buy" rating. Cantor Fitzgerald upheld an "overweight" rating with a price target of $45.00. Additionally, Wolfe Research initiated coverage, giving Pfizer an "underperform" rating with a target of $25.00. Currently, one analyst rates the stock as a sell, while eight suggest holding, six recommend buying, and two indicate a strong buy. The consensus rating stands at "Moderate Buy" with an average price target of $31.92, based on MarketBeat data.

Pfizer’s Stock Performance

At the start of trading on Monday, Pfizer shares were priced at $25.76. The company's market capitalization is approximately $145.96 billion, and it has a PE ratio of 18.27, a PEG ratio of 0.64, and a beta of 0.64. Key financial ratios include a quick ratio of 0.73, a current ratio of 1.00, and a debt-to-equity ratio of 0.63. The 50-day moving average for the stock is $26.28, while the 200-day average is $27.73. Over the past year, Pfizer Inc. has recorded a low of $24.48 and a high of $31.54.

Recent Earnings Report

Pfizer last released its quarterly earnings on February 4th. The biopharmaceutical firm reported earnings of $0.63 per share, surpassing analysts' expectations of $0.48 by $0.15. The company achieved a return on equity of 19.47% and net margins of 12.62%. Revenue for the quarter totaled $17.76 billion, exceeded the expected $17.26 billion. Compared to the same quarter last year, revenue increased by 24.7%, with the previous quarterly earnings standing at $0.10 per share. Analysts forecast that Pfizer Inc. will post earnings of $2.95 per share for the current year.

Dividend Announcement

Recently, Pfizer announced a quarterly dividend that will be distributed on Friday, March 7th. Shareholders on record by January 24th will receive a dividend of $0.43, up from the previous dividend of $0.42. The ex-dividend date for this distribution is set for January 24th, representing an annualized dividend of $1.72, which yields about 6.68%. Pfizer's current payout ratio is 121.99%.

About Pfizer Inc.

Company Overview
Pfizer Inc. specializes in the discovery, development, manufacture, marketing, and distribution of biopharmaceutical products across the United States, Europe, and globally. The company provides a wide range of medicines and vaccines targeting various therapeutic areas, including cardiovascular, metabolic, and women's health under brands such as Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family. They also address infectious diseases with critical needs under brands like Prevnar, Abrysvo, and Trumenba, and offer COVID-19 prevention and treatment options, including Comirnaty and Paxlovid.

Pfizer, Investment, Finance