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

Spinnaker Investment Group LLC boosted its stake in Pfizer Inc. (NYSE:PFE) by 7.0% in the 3rd quarter, Holdings Channel reports. The firm owned 8,249 shares of the biopharmaceutical company’s stock after buying an additional 541 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Pfizer were worth $239,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. lifted its position in shares of Pfizer by 15.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 88,670 shares of the biopharmaceutical company’s stock worth $2,566,000 after purchasing an additional 11,820 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Pfizer in the 3rd quarter worth $262,000. Straight Path Wealth Management boosted its position in Pfizer by 3.2% in the 3rd quarter. Straight Path Wealth Management now owns 38,212 shares of the biopharmaceutical company’s stock valued at $1,106,000 after buying an additional 1,187 shares during the last quarter. Seelaus Asset Management LLC increased its position in shares of Pfizer by 61.6% during the third quarter. Seelaus Asset Management LLC now owns 29,427 shares of the biopharmaceutical company’s stock worth $852,000 after acquiring an additional 11,215 shares during the last quarter. Finally, Northcape Wealth Management LLC lifted its stake in shares of Pfizer by 1.8% in the third quarter. Northcape Wealth Management LLC now owns 23,774 shares of the biopharmaceutical company’s stock worth $688,000 after acquiring an additional 419 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PFE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted 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. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Price Performance

Shares of PFE opened at $24.80 on Friday. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. 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 stock has a fifty day moving average price of $28.64 and a 200 day moving average price of $28.66. The company has a market cap of $140.54 billion, a P/E ratio of 33.51, a PEG ratio of 0.79 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. On average, research analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed 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. This represents a $1.68 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought 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 approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

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.