Savvy Advisors Inc. Buys 3,058 Shares of Pfizer Inc. (NYSE:PFE)

Savvy Advisors Inc. boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 14.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,339 shares of the biopharmaceutical company’s stock after purchasing an additional 3,058 shares during the quarter. Savvy Advisors Inc.’s holdings in Pfizer were worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer in the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the second quarter worth $29,000. Quarry LP purchased a new position in shares of Pfizer in the second quarter worth $31,000. Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the second quarter valued at $34,000. Finally, ESL Trust Services LLC purchased a new position in Pfizer in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE opened at $26.18 on Wednesday. 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 stock has a market capitalization of $148.36 billion, a PE ratio of 35.38, a P/E/G ratio of 0.83 and a beta of 0.67. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The company has a fifty day moving average of $28.84 and a two-hundred day moving average of $28.67.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, research analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. StockNews.com raised Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Citigroup initiated coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.58.

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.