SVB Wealth LLC Purchases New Position in Pfizer Inc. (NYSE:PFE)

SVB Wealth LLC acquired a new stake in shares of Pfizer Inc. (NYSE:PFE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 522,919 shares of the biopharmaceutical company’s stock, valued at approximately $13,873,000.

Several other large investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC bought a new stake in shares of Pfizer in the 4th quarter valued at $26,000. Gladius Capital Management LP lifted its stake in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Pfizer in the fourth quarter valued at approximately $34,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Pfizer in the third quarter valued at approximately $35,000. Finally, Joseph Group Capital Management increased its position in shares of Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 771 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Insider Buying and Selling at Pfizer

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PFE. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. UBS Group reduced their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Bank of America reissued a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Guggenheim reaffirmed a “buy” rating and set a $33.00 price target on shares of Pfizer in a research report on Monday, February 10th. Finally, Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Performance

Shares of PFE stock opened at $26.43 on Friday. The stock has a market cap of $149.78 billion, a P/E ratio of 18.74, a P/E/G ratio of 0.64 and a beta of 0.64. The company has a fifty day moving average price of $26.35 and a two-hundred day moving average price of $27.34. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The business had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. Pfizer’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. As a group, equities analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 121.99%.

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.