TRUE Private Wealth Advisors Has $1.78 Million Position in Pfizer Inc. (NYSE:PFE)

TRUE Private Wealth Advisors cut its position in shares of Pfizer Inc. (NYSE:PFE) by 18.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,558 shares of the biopharmaceutical company’s stock after selling 14,240 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Pfizer were worth $1,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFE. Fred Alger Management LLC grew its position in Pfizer by 7.4% in the third quarter. Fred Alger Management LLC now owns 102,668 shares of the biopharmaceutical company’s stock valued at $2,971,000 after purchasing an additional 7,076 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Pfizer by 2.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,630,089 shares of the biopharmaceutical company’s stock worth $47,169,000 after buying an additional 32,524 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its stake in shares of Pfizer by 3.0% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 263,531 shares of the biopharmaceutical company’s stock worth $7,627,000 after buying an additional 7,799 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of Pfizer in the 3rd quarter valued at about $35,000. Finally, Vinva Investment Management Ltd increased its position in shares of Pfizer by 312.5% in the third quarter. Vinva Investment Management Ltd now owns 193,465 shares of the biopharmaceutical company’s stock valued at $5,628,000 after acquiring an additional 146,564 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Pfizer Stock Up 1.5 %

Pfizer stock opened at $26.21 on Friday. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The stock has a market cap of $148.53 billion, a P/E ratio of 35.42, a P/E/G ratio of 0.70 and a beta of 0.67. The company’s 50-day moving average price is $27.83 and its two-hundred day moving average price is $28.49. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its earnings results 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 company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) earnings per share. As a group, analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.41%. Pfizer’s payout ratio is presently 227.03%.

Analysts Set New Price Targets

Several brokerages recently commented on PFE. Citigroup started coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.92.

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.