SVB Wealth LLC Invests $13.87 Million in Pfizer Inc. (NYSE:PFE)

SVB Wealth LLC bought a new stake in Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 522,919 shares of the biopharmaceutical company’s stock, valued at approximately $13,873,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB raised its position in Pfizer by 0.7% in the third quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock worth $166,284,000 after purchasing an additional 37,636 shares in the last quarter. Financial Advocates Investment Management grew its stake in shares of Pfizer by 5.5% in the 3rd quarter. Financial Advocates Investment Management now owns 44,909 shares of the biopharmaceutical company’s stock valued at $1,300,000 after purchasing an additional 2,361 shares during the period. United Asset Strategies Inc. lifted its position in shares of Pfizer by 7.1% during the 3rd quarter. United Asset Strategies Inc. now owns 32,274 shares of the biopharmaceutical company’s stock worth $934,000 after buying an additional 2,141 shares during the period. Reston Wealth Management LLC bought a new position in shares of Pfizer during the 3rd quarter worth approximately $83,000. Finally, Aspen Wealth Strategies LLC grew its position in Pfizer by 22.0% in the third quarter. Aspen Wealth Strategies LLC now owns 10,207 shares of the biopharmaceutical company’s stock valued at $295,000 after acquiring an additional 1,843 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Up 1.3 %

Shares of PFE opened at $26.43 on Friday. The firm has a market capitalization of $149.78 billion, a price-to-earnings ratio of 18.74, a PEG 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 company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The business’s fifty day moving average price is $26.35 and its two-hundred day moving average price is $27.34.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the company earned $0.10 earnings per share. The company’s revenue was up 24.7% on a year-over-year basis. On average, analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.51%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is 121.99%.

Insider Activity at Pfizer

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the transaction, the director now owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PFE. Bank of America reissued a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. UBS Group decreased their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wolfe Research assumed coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. Finally, Guggenheim restated a “buy” rating and set a $33.00 price target on shares of Pfizer in a research report on Monday, February 10th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.92.

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.