Cove Private Wealth LLC Increases Stake in Pfizer Inc. (NYSE:PFE)

Cove Private Wealth LLC raised its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 693.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 92,280 shares of the biopharmaceutical company's stock after acquiring an additional 80,650 shares during the period. Pfizer makes up approximately 1.5% of Cove Private Wealth LLC's holdings, making the stock its 15th biggest position. Cove Private Wealth LLC's holdings in Pfizer were worth $2,448,000 as of its most recent SEC filing.

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

Pfizer Trading Down 0.7 %

Shares of PFE stock traded down $0.19 on Monday, reaching $26.30. 35,146,711 shares of the company's stock were exchanged, compared to its average volume of 35,869,448. The company's fifty day simple moving average is $26.08 and its 200 day simple moving average is $27.99. The stock has a market capitalization of $149.06 billion, a PE ratio of 35.55, a P/E/G ratio of 0.64 and a beta of 0.64. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 7.07% and a return on equity of 16.28%. The company's quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share. As a group, analysts forecast that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This is an increase from Pfizer's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.54%. The ex-dividend date is Friday, January 24th. Pfizer's payout ratio is presently 227.03%.

Insider Buying and Selling

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company's stock, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PFE shares. Guggenheim dropped their target price on shares of Pfizer from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. UBS Group cut their price objective on Pfizer from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Bank of America reiterated a "neutral" rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. StockNews.com downgraded Pfizer from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They set a "market perform" rating and a $32.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Pfizer has an average rating of "Moderate Buy" and a consensus target price of $32.00.

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.