Addison Advisors LLC Acquires 41,668 Shares of Pfizer Inc. (NYSE:PFE)

Addison Advisors LLC lifted its position in Pfizer Inc. (NYSE:PFE - Free Report) by 394.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,238 shares of the biopharmaceutical company's stock after acquiring an additional 41,668 shares during the period. Addison Advisors LLC's holdings in Pfizer were worth $1,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer during the second quarter valued at about $29,000. Quarry LP purchased a new position in shares of Pfizer during the second quarter valued at about $31,000. Financial Connections Group Inc. purchased a new position in shares of Pfizer during the second quarter valued at about $34,000. Finally, ESL Trust Services LLC purchased a new position in shares of Pfizer during the first quarter valued at about $37,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Insider Activity

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $282,400. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

PFE has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a "market perform" rating and a $32.00 price target for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. UBS Group raised their price objective on Pfizer from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. StockNews.com upgraded Pfizer from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. Finally, Barclays lifted their price objective on Pfizer from $30.00 to $32.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.58.

Pfizer Stock Performance

NYSE PFE traded down $0.47 during trading hours on Monday, hitting $26.25. 45,375,207 shares of the stock were exchanged, compared to its average volume of 37,611,336. The company has a market cap of $148.76 billion, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The stock has a 50-day moving average of $28.89 and a 200 day moving average of $28.67. The company has a quick ratio of 0.60, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business earned ($0.17) EPS. Pfizer's revenue for the quarter was up 31.2% on a year-over-year basis. As a group, equities research analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer's dividend payout ratio is currently 227.03%.

Pfizer 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.