Granite Harbor Advisors Inc. Purchases Shares of 7,236 Pfizer Inc. (NYSE:PFE)

Granite Harbor Advisors Inc. acquired a new position in shares of Pfizer Inc. (NYSE:PFE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,236 shares of the biopharmaceutical company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stablepoint Partners LLC boosted its stake in Pfizer by 0.8% in the 3rd quarter. Stablepoint Partners LLC now owns 135,588 shares of the biopharmaceutical company’s stock valued at $3,924,000 after purchasing an additional 1,032 shares during the period. Sapient Capital LLC grew its stake in shares of Pfizer by 1.5% in the third quarter. Sapient Capital LLC now owns 966,911 shares of the biopharmaceutical company’s stock valued at $27,982,000 after acquiring an additional 13,879 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Pfizer during the third quarter worth about $115,000. Paladin Wealth LLC acquired a new stake in Pfizer in the 3rd quarter worth about $606,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Pfizer by 28.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 23,274 shares of the biopharmaceutical company’s stock worth $674,000 after purchasing an additional 5,205 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group increased their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Trading Down 0.5 %

Pfizer stock traded down $0.16 during trading hours on Monday, reaching $29.00. 5,136,444 shares of the company’s stock were exchanged, compared to its average volume of 37,230,977. The firm has a market capitalization of $164.33 billion, a PE ratio of -483.33, a PEG ratio of 1.30 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm’s 50 day simple moving average is $29.04 and its 200 day simple moving average is $28.39. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $33.92.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. Research analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.79%. Pfizer’s 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.