Pfizer Inc. (NYSE:PFE) Shares Purchased by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC grew its holdings in shares of Pfizer Inc. (NYSE:PFE) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,249 shares of the biopharmaceutical company’s stock after purchasing an additional 541 shares during the period. Spinnaker Investment Group LLC’s holdings in Pfizer were worth $239,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PFE. Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares during the period. Van ECK Associates Corp boosted its holdings in Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after buying an additional 456,168 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Pfizer by 4.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock worth $479,073,000 after buying an additional 658,420 shares during the period. Federated Hermes Inc. increased its holdings in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after buying an additional 470,003 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Pfizer by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after buying an additional 544,418 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Trading Down 4.7 %

Shares of PFE opened at $24.80 on Friday. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a market capitalization of $140.54 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. The stock has a fifty day moving average of $28.64 and a two-hundred day moving average of $28.66. 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 earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the firm posted ($0.17) earnings per share. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.77%. Pfizer’s payout ratio is 227.03%.

Insider Buying and Selling

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PFE. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. StockNews.com raised Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

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.