Inspire Trust Co. N.A. Purchases 14,891 Shares of Pfizer Inc. (NYSE:PFE)

Inspire Trust Co. N.A. boosted its position in Pfizer Inc. (NYSE:PFE) by 19.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 92,708 shares of the biopharmaceutical company’s stock after acquiring an additional 14,891 shares during the period. Inspire Trust Co. N.A.’s holdings in Pfizer were worth $2,683,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Peapack Gladstone Financial Corp increased its stake in shares of Pfizer by 23.9% during the third quarter. Peapack Gladstone Financial Corp now owns 762,976 shares of the biopharmaceutical company’s stock valued at $22,082,000 after buying an additional 147,405 shares during the period. Synovus Financial Corp increased its position in Pfizer by 11.9% during the 3rd quarter. Synovus Financial Corp now owns 740,727 shares of the biopharmaceutical company’s stock valued at $21,437,000 after purchasing an additional 78,675 shares during the period. Tidal Investments LLC lifted its position in shares of Pfizer by 13.1% in the 3rd quarter. Tidal Investments LLC now owns 190,628 shares of the biopharmaceutical company’s stock worth $5,517,000 after purchasing an additional 22,068 shares during the period. Optimist Retirement Group LLC boosted its stake in shares of Pfizer by 0.7% during the 3rd quarter. Optimist Retirement Group LLC now owns 74,337 shares of the biopharmaceutical company’s stock valued at $2,151,000 after purchasing an additional 492 shares in the last quarter. Finally, Destination Wealth Management increased its position in shares of Pfizer by 5.9% during the third quarter. Destination Wealth Management now owns 703,928 shares of the biopharmaceutical company’s stock valued at $20,372,000 after buying an additional 38,907 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PFE has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Bank of America reissued a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday. Guggenheim decreased their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup started coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Wolfe Research initiated coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

Pfizer Trading Up 0.6 %

Shares of PFE stock opened at $25.37 on Friday. 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 company has a market cap of $143.77 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 0.63 and a beta of 0.65. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The firm has a fifty day moving average price of $27.23 and a 200-day moving average price of $28.29.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, equities 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 issued a $0.43 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.78%. Pfizer’s payout ratio is currently 227.03%.

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.