Spinnaker Trust Buys 709 Shares of Pfizer Inc. (NYSE:PFE)

Spinnaker Trust raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,970 shares of the biopharmaceutical company’s stock after acquiring an additional 709 shares during the quarter. Spinnaker Trust’s holdings in Pfizer were worth $2,891,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Constant Guidance Financial LLC bought a new position in shares of Pfizer during the fourth quarter valued at $1,363,000. Blue Trust Inc. lifted its holdings in shares of Pfizer by 133.4% during the fourth quarter. Blue Trust Inc. now owns 125,023 shares of the biopharmaceutical company’s stock valued at $3,317,000 after acquiring an additional 71,464 shares during the period. Roman Butler Fullerton & Co. lifted its holdings in shares of Pfizer by 15.5% during the fourth quarter. Roman Butler Fullerton & Co. now owns 39,811 shares of the biopharmaceutical company’s stock valued at $1,069,000 after acquiring an additional 5,348 shares during the period. Autumn Glory Partners LLC lifted its holdings in shares of Pfizer by 29.5% during the fourth quarter. Autumn Glory Partners LLC now owns 39,159 shares of the biopharmaceutical company’s stock valued at $1,045,000 after acquiring an additional 8,909 shares during the period. Finally, AustralianSuper Pty Ltd bought a new position in shares of Pfizer during the fourth quarter valued at $8,382,000. 68.36% of the stock is owned by institutional investors.

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now directly owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $25.50 on Friday. The stock has a market capitalization of $144.48 billion, a P/E ratio of 18.08, a P/E/G ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The business has a 50-day moving average price of $26.28 and a two-hundred day moving average price of $27.62. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. The company had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. Equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.75%. Pfizer’s payout ratio is currently 121.99%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PFE shares. UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating and issued a $33.00 price target on shares of Pfizer in a report on Monday, February 10th. Wolfe Research started coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. Finally, Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.92.

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.