Spartan Fund Management Inc. Acquires 2,000 Shares of Pfizer Inc. (NYSE:PFE)

Spartan Fund Management Inc. raised its position in shares of Pfizer Inc. (NYSE:PFE) by 66.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,000 shares of the biopharmaceutical company’s stock after buying an additional 2,000 shares during the period. Spartan Fund Management Inc.’s holdings in Pfizer were worth $145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Eastern Bank raised its position in Pfizer by 481.4% during the third quarter. Eastern Bank now owns 107,466 shares of the biopharmaceutical company’s stock worth $3,110,000 after acquiring an additional 88,982 shares during the period. Xcel Wealth Management LLC boosted its position in Pfizer by 0.4% during the third quarter. Xcel Wealth Management LLC now owns 276,711 shares of the biopharmaceutical company’s stock worth $8,008,000 after acquiring an additional 1,055 shares during the last quarter. Signaturefd LLC grew its position in shares of Pfizer by 4.1% in the third quarter. Signaturefd LLC now owns 117,087 shares of the biopharmaceutical company’s stock valued at $3,389,000 after purchasing an additional 4,562 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Pfizer by 55.9% in the third quarter. Sequoia Financial Advisors LLC now owns 422,143 shares of the biopharmaceutical company’s stock valued at $12,217,000 after purchasing an additional 151,293 shares during the last quarter. Finally, Harbor Advisory Corp MA increased its position in Pfizer by 3.0% during the third quarter. Harbor Advisory Corp MA now owns 126,272 shares of the biopharmaceutical company’s stock worth $3,654,000 after purchasing an additional 3,640 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Thursday, October 3rd. UBS Group lifted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.91.

Pfizer Price Performance

Shares of PFE stock traded down $0.08 during trading hours on Tuesday, hitting $28.85. The company’s stock had a trading volume of 17,051,047 shares, compared to its average volume of 36,941,559. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $29.07 and a 200-day moving average of $28.47. The stock has a market cap of $163.48 billion, a price-to-earnings ratio of -479.33, a P/E/G ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

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.