Griffin Asset Management Inc. Grows Position in Pfizer Inc. (NYSE:PFE)

Griffin Asset Management Inc. raised its position in Pfizer Inc. (NYSE:PFE) by 9.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,607 shares of the biopharmaceutical company’s stock after purchasing an additional 8,138 shares during the quarter. Griffin Asset Management Inc.’s holdings in Pfizer were worth $2,738,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP lifted its stake in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after acquiring an additional 8,378,173 shares during the last quarter. Swedbank AB bought a new stake in shares of Pfizer during the first quarter worth $172,902,000. Pzena Investment Management LLC boosted its stake in shares of Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after purchasing an additional 4,947,000 shares during the period. Van ECK Associates Corp grew its holdings in shares of Pfizer by 21.8% in the first quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock worth $438,820,000 after purchasing an additional 2,829,178 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Pfizer by 24,961.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock worth $69,891,000 after buying an additional 2,487,919 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 1.3 %

Shares of NYSE:PFE opened at $29.46 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market capitalization of $166.94 billion, a P/E ratio of -491.00, a P/E/G ratio of 1.30 and a beta of 0.67. The business’s 50-day moving average is $29.02 and its 200 day moving average is $28.41. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $33.92.

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

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.70%. Pfizer’s dividend payout ratio (DPR) is -2,800.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Thursday, October 3rd. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.