Grimes & Company Inc. Has $2.83 Million Stake in Pfizer Inc. (NYSE:PFE)

Grimes & Company Inc. grew its holdings in Pfizer Inc. (NYSE:PFE) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,926 shares of the biopharmaceutical company’s stock after purchasing an additional 4,969 shares during the period. Grimes & Company Inc.’s holdings in Pfizer were worth $2,834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Olistico Wealth LLC acquired a new stake in Pfizer in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer in the second quarter valued at about $29,000. Quarry LP bought a new position in Pfizer in the 2nd quarter worth approximately $31,000. Trivant Custom Portfolio Group LLC increased its stake in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the second quarter worth $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PFE. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday. Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Barclays increased their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $33.91.

Pfizer Price Performance

PFE traded up $0.11 during midday trading on Thursday, hitting $28.97. The company had a trading volume of 1,133,458 shares, compared to its average volume of 36,754,438. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The company has a market capitalization of $164.16 billion, a PE ratio of -481.00, a P/E/G ratio of 1.02 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm’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 quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the business posted $0.67 earnings per share. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

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 issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is -2,800.00%.

Pfizer Company 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.