Independent Advisor Alliance Acquires 23,772 Shares of Pfizer Inc. (NYSE:PFE)

Independent Advisor Alliance boosted its stake in Pfizer Inc. (NYSE:PFE) by 11.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 234,455 shares of the biopharmaceutical company’s stock after purchasing an additional 23,772 shares during the quarter. Independent Advisor Alliance’s holdings in Pfizer were worth $6,785,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PFE. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the 2nd quarter valued at about $29,000. Gladius Capital Management LP lifted 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 valued at $30,000 after acquiring an additional 38,015 shares during the period. Quarry LP purchased a new position in shares of Pfizer in the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. purchased a new position in Pfizer during the second quarter valued at $34,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

Shares of PFE opened at $25.65 on Monday. The stock has a market capitalization of $145.36 billion, a PE ratio of 34.66, a PEG ratio of 0.82 and a beta of 0.67. The company has a 50 day moving average price of $28.21 and a 200-day moving average price of $28.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the company posted ($0.17) earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis. Equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PFE shares. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

Pfizer 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.