Cove Private Wealth LLC Has $2.45 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Cove Private Wealth LLC lifted its holdings in Pfizer Inc. (NYSE:PFE) by 693.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,280 shares of the biopharmaceutical company’s stock after acquiring an additional 80,650 shares during the period. Pfizer makes up approximately 1.5% of Cove Private Wealth LLC’s investment portfolio, making the stock its 15th largest position. Cove Private Wealth LLC’s holdings in Pfizer were worth $2,448,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PFE. Thrivent Financial for Lutherans raised its stake in Pfizer by 2.8% in the second quarter. Thrivent Financial for Lutherans now owns 739,236 shares of the biopharmaceutical company’s stock valued at $20,684,000 after purchasing an additional 20,140 shares in the last quarter. Sompo Asset Management Co. Ltd. increased its holdings in Pfizer by 15.1% in the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 22,470 shares of the biopharmaceutical company’s stock valued at $629,000 after buying an additional 2,950 shares during the period. Schwerin Boyle Capital Management Inc. raised its position in shares of Pfizer by 8.2% in the 2nd quarter. Schwerin Boyle Capital Management Inc. now owns 775,125 shares of the biopharmaceutical company’s stock valued at $21,688,000 after buying an additional 58,850 shares in the last quarter. Kowal Investment Group LLC lifted its holdings in shares of Pfizer by 10.3% during the 2nd quarter. Kowal Investment Group LLC now owns 18,834 shares of the biopharmaceutical company’s stock worth $527,000 after acquiring an additional 1,757 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Pfizer by 7.3% during the 2nd quarter. ProShare Advisors LLC now owns 845,638 shares of the biopharmaceutical company’s stock worth $23,661,000 after acquiring an additional 57,825 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America restated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Citigroup started coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Finally, Truist Financial decreased their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Price Performance

Shares of NYSE:PFE opened at $26.30 on Monday. The firm has a market cap of $149.06 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The firm’s fifty day moving average is $26.08 and its 200-day moving average is $27.99. 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 (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.17) EPS. Sell-side analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current 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 given a $0.43 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.54%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is 227.03%.

Insider Activity

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 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.