Novare Capital Management LLC Invests $228,000 in Pfizer Inc. (NYSE:PFE)

Novare Capital Management LLC purchased a new stake in Pfizer Inc. (NYSE:PFE) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 8,602 shares of the biopharmaceutical company’s stock, valued at approximately $228,000.

A number of other hedge funds have also added to or reduced their stakes in PFE. Retirement Wealth Solutions LLC bought a new position in shares of Pfizer during the fourth quarter valued at about $26,000. Gladius Capital Management LP lifted its position in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP bought a new position in shares of Pfizer in the second quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Pfizer during the third quarter worth $35,000. Finally, Joseph Group Capital Management boosted its position in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 771 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 1.3 %

PFE stock opened at $26.10 on Monday. The stock has a 50-day simple moving average of $26.11 and a two-hundred day simple moving average of $27.94. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The firm has a market capitalization of $147.89 billion, a PE ratio of 35.27, a PEG ratio of 0.64 and a beta of 0.64. 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 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities analysts predict that Pfizer Inc. will post 2.94 EPS for the current fiscal 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 paid a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.59%. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Wall Street Analyst Weigh In

PFE has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Guggenheim reduced their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Buying and Selling

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by company insiders.

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.