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

Bank of Marin lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 17.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,430 shares of the biopharmaceutical company’s stock after purchasing an additional 1,250 shares during the period. Bank of Marin’s holdings in Pfizer were worth $244,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. purchased a new position in Pfizer in the 1st quarter valued at about $315,000. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Pfizer by 16.0% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 72,467 shares of the biopharmaceutical company’s stock valued at $2,011,000 after buying an additional 9,989 shares during the period. Forum Financial Management LP boosted its position in Pfizer by 1.8% during the first quarter. Forum Financial Management LP now owns 57,342 shares of the biopharmaceutical company’s stock worth $1,591,000 after acquiring an additional 1,033 shares during the last quarter. M&G Plc purchased a new stake in Pfizer in the 1st quarter worth approximately $19,885,000. Finally, Poehling Capital Management INC. grew its stake in Pfizer by 9.3% in the 1st quarter. Poehling Capital Management INC. now owns 54,416 shares of the biopharmaceutical company’s stock worth $1,510,000 after acquiring an additional 4,609 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Down 4.8 %

Pfizer stock traded down $1.24 during midday trading on Friday, hitting $24.78. 32,144,563 shares of the company were exchanged, compared to its average volume of 37,785,613. The company has a market cap of $140.43 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company’s fifty day moving average price is $28.71 and its 200-day moving average price is $28.65. 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 issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, research analysts predict that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Dividend Announcement

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 given a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 6.78%. Pfizer’s payout ratio is 227.03%.

Wall Street Analyst Weigh In

PFE has been the topic of several analyst reports. UBS Group raised their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Finally, Wells Fargo & Company upped their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Pfizer Company 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.