Red Door Wealth Management LLC Acquires 1,089 Shares of Pfizer Inc. (NYSE:PFE)
Red Door Wealth Management LLC grew its holdings in Pfizer Inc. (NYSE:PFE) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,467 shares of the biopharmaceutical company’s stock after purchasing an additional 1,089 shares during the quarter. Pfizer makes up 1.8% of Red Door Wealth Management LLC’s portfolio, making the stock its 15th biggest position. Red Door Wealth Management LLC’s holdings in Pfizer were worth $2,441,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in PFE. Investors Asset Management of Georgia Inc. GA ADV boosted its position in Pfizer by 1.5% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 55,374 shares of the biopharmaceutical company’s stock valued at $2,032,000 after acquiring an additional 800 shares in the last quarter. Aries Wealth Management raised its position in shares of Pfizer by 4.0% in the 3rd quarter. Aries Wealth Management now owns 40,501 shares of the biopharmaceutical company’s stock worth $1,486,000 after acquiring an additional 1,555 shares in the last quarter. Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Pfizer during the 3rd quarter worth $296,000. Strategic Investment Advisors MI boosted its position in Pfizer by 12.9% during the third quarter. Strategic Investment Advisors MI now owns 20,858 shares of the biopharmaceutical company’s stock valued at $763,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Ridgewood Investments LLC grew its stake in Pfizer by 5.2% in the third quarter. Ridgewood Investments LLC now owns 21,927 shares of the biopharmaceutical company’s stock valued at $805,000 after purchasing an additional 1,084 shares during the last quarter. 69.08% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on PFE. UBS Group lifted their price objective on shares of Pfizer from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Mizuho restated a “buy” rating and issued a $43.00 target price on shares of Pfizer in a research note on Tuesday, September 15th. Morgan Stanley upped their price target on Pfizer from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Royal Bank of Canada set a $43.00 price objective on Pfizer and gave the company a “buy” rating in a report on Friday. Finally, ValuEngine downgraded Pfizer from a “hold” rating to a “sell” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $39.64.
Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.14. Pfizer had a return on equity of 25.11% and a net margin of 28.80%. The business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The company’s revenue was down 11.0% on a year-over-year basis. As a group, equities research analysts expect that Pfizer Inc. will post 2.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, November 5th. Pfizer’s payout ratio is 51.53%.
In other Pfizer news, Director Ronald E. Blaylock acquired 13,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $38.55 per share, with a total value of $501,150.00. Following the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at $154,200. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.
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