Bank of Marin Increases Holdings in Pfizer Inc. (NYSE:PFE)

Bank of Marin grew its holdings in Pfizer Inc. (NYSE:PFE) by 17.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,430 shares of the biopharmaceutical company’s stock after acquiring an additional 1,250 shares during the quarter. Bank of Marin’s holdings in Pfizer were worth $244,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Marshall Wace LLP boosted its holdings in shares of Pfizer by 279.3% in the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares in the last quarter. Swedbank AB purchased a new stake in Pfizer in the first quarter valued at $172,902,000. International Assets Investment Management LLC acquired a new position in Pfizer in the third quarter valued at $146,481,000. 1832 Asset Management L.P. grew its holdings in shares of Pfizer by 24,961.6% during the second quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock worth $69,891,000 after purchasing an additional 2,487,919 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Pfizer by 120.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,498,313 shares of the biopharmaceutical company’s stock worth $130,181,000 after purchasing an additional 2,459,666 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com raised Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Citigroup initiated coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were bought 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 owns 10,000 shares of the company’s stock, valued at $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 hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE traded down $1.24 during mid-day trading on Friday, reaching $24.78. The stock had a trading volume of 32,144,563 shares, compared to its average volume of 37,785,613. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The business has a 50 day simple moving average of $28.71 and a 200 day simple moving average of $28.65. The firm has a market capitalization of $140.43 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 0.85 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last posted its quarterly earnings results 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 return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same period last year, the firm earned ($0.17) EPS. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.78%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Pfizer 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.