Novare Capital Management LLC Purchases New Position in Pfizer Inc. (NYSE:PFE)

Novare Capital Management LLC acquired a new position in shares of Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,602 shares of the biopharmaceutical company’s stock, valued at approximately $228,000.

A number of other large investors also recently made changes to their positions in PFE. Retirement Wealth Solutions LLC bought a new stake in shares of Pfizer in the fourth quarter valued at about $26,000. Gladius Capital Management LP grew its position in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP acquired a new position in Pfizer in the 2nd quarter valued at $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer during the 3rd quarter worth $35,000. Finally, Joseph Group Capital Management raised its stake in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the subject of several analyst reports. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research initiated coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Guggenheim reduced their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, UBS Group lowered their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Insider Activity

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Pfizer Stock Down 1.3 %

Pfizer stock opened at $26.10 on Monday. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm has a 50 day moving average price of $26.11 and a two-hundred day moving average price of $27.94. The firm has a market cap of $147.89 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. Equities analysts predict that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.59%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

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.