Truvestments Capital LLC Grows Stock Position in Pfizer Inc. (NYSE:PFE)

Truvestments Capital LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 15.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,939 shares of the biopharmaceutical company’s stock after buying an additional 1,985 shares during the quarter. Truvestments Capital LLC’s holdings in Pfizer were worth $432,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PFE. Swiss National Bank grew its stake in shares of Pfizer by 0.6% during the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after acquiring an additional 100,900 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Pfizer by 80.9% during the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock worth $14,709,000 after buying an additional 227,349 shares during the period. Addison Advisors LLC raised its position in shares of Pfizer by 394.2% during the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock worth $1,512,000 after purchasing an additional 41,668 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Pfizer by 26.0% in the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after buying an additional 639,985 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PFE has been the topic of a number of recent research reports. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. One 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 has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Price Performance

PFE opened at $26.17 on Tuesday. The firm has a market cap of $148.31 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 0.82 and a beta of 0.67. The company’s 50-day moving average price is $28.13 and its 200 day moving average price is $28.56. 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 Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54.

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, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) earnings per share. As a group, sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 annualized dividend and a dividend yield of 6.42%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

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.