Balboa Wealth Partners Acquires 10,852 Shares of Pfizer Inc. (NYSE:PFE)

Balboa Wealth Partners raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 56.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 30,198 shares of the biopharmaceutical company’s stock after purchasing an additional 10,852 shares during the quarter. Balboa Wealth Partners’ holdings in Pfizer were worth $874,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Addison Advisors LLC raised its stake in Pfizer by 394.2% during the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after buying an additional 41,668 shares during the last quarter. KBC Group NV increased its position in shares of Pfizer by 26.0% during the 3rd quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after purchasing an additional 639,985 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Pfizer by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock worth $379,657,000 after purchasing an additional 544,418 shares during the period. LGT Group Foundation boosted its holdings in shares of Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after buying an additional 18,274 shares during the last quarter. Finally, Radnor Capital Management LLC bought a new stake in shares of Pfizer during the 3rd quarter valued at $2,972,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Performance

Pfizer stock opened at $26.02 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market capitalization of $147.46 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The company’s 50-day moving average is $28.76 and its 200 day moving average is $28.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for 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%. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. Research analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.46%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is 227.03%.

Insider Activity

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost 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 in the company, valued at $282,400. This represents a 11.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.