Balboa Wealth Partners Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Balboa Wealth Partners raised its stake in Pfizer Inc. (NYSE:PFE) by 56.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,198 shares of the biopharmaceutical company’s stock after acquiring an additional 10,852 shares during the quarter. Balboa Wealth Partners’ holdings in Pfizer were worth $874,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new stake in Pfizer in the 1st quarter valued at about $315,000. Dorsey & Whitney Trust CO LLC raised its holdings in Pfizer by 16.0% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 72,467 shares of the biopharmaceutical company’s stock valued at $2,011,000 after acquiring an additional 9,989 shares during the period. Forum Financial Management LP lifted its holdings in Pfizer by 1.8% during the 1st quarter. Forum Financial Management LP now owns 57,342 shares of the biopharmaceutical company’s stock worth $1,591,000 after purchasing an additional 1,033 shares in the last quarter. M&G Plc bought a new position in Pfizer in the 1st quarter worth about $19,885,000. Finally, Poehling Capital Management INC. increased its position in shares of Pfizer by 9.3% during the first quarter. Poehling Capital Management INC. now owns 54,416 shares of the biopharmaceutical company’s stock valued at $1,510,000 after buying an additional 4,609 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly 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 legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Citigroup initiated coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Down 2.6 %

Shares of NYSE PFE opened at $26.02 on Friday. The firm’s fifty day moving average is $28.76 and its 200 day moving average is $28.67. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The company has a market cap of $147.46 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 0.85 and a beta of 0.67. 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 issued 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period last year, the company earned ($0.17) EPS. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is presently 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.