Ballentine Partners LLC Buys 1,172 Shares of Pfizer Inc. (NYSE:PFE)

Ballentine Partners LLC boosted its position in Pfizer Inc. (NYSE:PFE) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,861 shares of the biopharmaceutical company’s stock after acquiring an additional 1,172 shares during the quarter. Ballentine Partners LLC’s holdings in Pfizer were worth $3,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Coerente Capital Management boosted its stake in Pfizer by 1.0% in the third quarter. Coerente Capital Management now owns 589,052 shares of the biopharmaceutical company’s stock worth $17,047,000 after buying an additional 5,989 shares in the last quarter. Silver Oak Securities Incorporated boosted its stake in shares of Pfizer by 33.3% in the 3rd quarter. Silver Oak Securities Incorporated now owns 13,967 shares of the biopharmaceutical company’s stock valued at $397,000 after purchasing an additional 3,486 shares in the last quarter. Moody Lynn & Lieberson LLC grew its holdings in shares of Pfizer by 48.6% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 83,153 shares of the biopharmaceutical company’s stock valued at $2,406,000 after purchasing an additional 27,198 shares during the last quarter. Element Wealth LLC raised its position in Pfizer by 5.7% in the 3rd quarter. Element Wealth LLC now owns 15,313 shares of the biopharmaceutical company’s stock worth $443,000 after purchasing an additional 830 shares during the period. Finally, West Michigan Advisors LLC boosted its position in Pfizer by 11.4% during the third quarter. West Michigan Advisors LLC now owns 11,545 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 1,181 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PFE. UBS Group lifted 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. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday. Citigroup initiated coverage on shares of Pfizer in a research report on Friday. They set a “neutral” rating and a $30.00 price target for the company. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Stock Performance

Pfizer stock opened at $28.65 on Friday. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The stock’s 50 day simple moving average is $29.07 and its two-hundred day simple moving average is $28.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market cap of $162.35 billion, a price-to-earnings ratio of -62.28, a PEG ratio of 1.01 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, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. As a group, analysts expect that Pfizer Inc. will post 2.67 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend on an annualized basis and a yield of 5.86%. Pfizer’s dividend payout ratio (DPR) is currently -365.21%.

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.