Canopy Partners LLC Has $1 Million Position in Pfizer Inc. (NYSE:PFE)

Canopy Partners LLC boosted its position in shares of Pfizer Inc. (NYSE:PFE) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,588 shares of the biopharmaceutical company’s stock after purchasing an additional 1,618 shares during the period. Canopy Partners LLC’s holdings in Pfizer were worth $1,001,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. FAS Wealth Partners Inc. boosted its stake in shares of Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after purchasing an additional 342 shares during the last quarter. Sachetta LLC grew its holdings in Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares during the period. Wells Trecaso Financial Group LLC raised its position in shares of Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after acquiring an additional 350 shares in the last quarter. Ironvine Capital Partners LLC lifted its stake in shares of Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 353 shares during the period. Finally, Secure Asset Management LLC grew its stake in Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after purchasing an additional 353 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Scott Gottlieb bought 1,000 shares of the company’s 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 acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

Pfizer Trading Up 2.0 %

Pfizer stock opened at $25.63 on Friday. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The business’s fifty day moving average is $28.21 and its 200 day moving average is $28.57. The stock has a market capitalization of $145.24 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 0.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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 the consensus estimate of $14.92 billion. During the same period last year, the business posted ($0.17) EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup began coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. 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. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Wolfe Research assumed coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned 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 a consensus rating of “Moderate Buy” and an average price target of $32.92.

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.