Trivant Custom Portfolio Group LLC Raises Position in Pfizer Inc. (NYSE:PFE)

Trivant Custom Portfolio Group LLC increased its stake in Pfizer Inc. (NYSE:PFE) by 41.8% during the 4th quarter, Holdings Channel reports. The fund owned 1,733 shares of the biopharmaceutical company’s stock after purchasing an additional 511 shares during the quarter. Trivant Custom Portfolio Group LLC’s holdings in Pfizer were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PFE. Charles Schwab Investment Management Inc. raised its holdings in Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after acquiring an additional 12,864,343 shares in the last quarter. Marshall Wace LLP increased its position in shares of Pfizer by 279.3% in the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after purchasing an additional 6,977,587 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Pfizer during the 3rd quarter worth $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after purchasing an additional 4,546,809 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PFE shares. Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. UBS Group lowered their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wolfe Research started coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Guggenheim cut their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Citigroup assumed coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Pfizer Stock Down 0.7 %

PFE opened at $26.30 on Friday. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business has a 50 day simple moving average of $26.09 and a 200-day simple moving average of $28.00. The stock has a market capitalization of $149.06 billion, a P/E ratio of 35.55, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS. On average, equities analysts anticipate that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.54%. Pfizer’s payout ratio is 227.03%.

Insider Buying and Selling

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer Company 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.