Canal Capital Management LLC Buys 454 Shares of Pfizer Inc. (NYSE:PFE)

Canal Capital Management LLC lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,012 shares of the biopharmaceutical company’s stock after acquiring an additional 454 shares during the period. Canal Capital Management LLC’s holdings in Pfizer were worth $782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Olistico Wealth LLC bought a new position in shares of Pfizer during the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer during the 2nd quarter worth approximately $29,000. Quarry LP acquired a new stake in shares of Pfizer in the second quarter valued at approximately $31,000. Trivant Custom Portfolio Group LLC lifted its position in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Pfizer during the second quarter worth $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Price Performance

Pfizer stock opened at $28.69 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a market cap of $162.58 billion, a price-to-earnings ratio of -62.28, a PEG ratio of 1.01 and a beta of 0.67. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The business’s 50 day simple moving average is $29.07 and its 200 day simple moving average is $28.48.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. Sell-side analysts forecast that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.86%. Pfizer’s dividend payout ratio (DPR) is presently -365.21%.

About Pfizer

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.