Beacon Harbor Wealth Advisors Inc. Buys 3,169 Shares of Pfizer Inc. (NYSE:PFE)

Beacon Harbor Wealth Advisors Inc. boosted its stake in Pfizer Inc. (NYSE:PFE) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 236,210 shares of the biopharmaceutical company’s stock after purchasing an additional 3,169 shares during the period. Pfizer makes up approximately 1.6% of Beacon Harbor Wealth Advisors Inc.’s holdings, making the stock its 27th largest position. Beacon Harbor Wealth Advisors Inc.’s holdings in Pfizer were worth $6,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PFE. Marshall Wace LLP grew its holdings in shares of Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after acquiring an additional 8,378,173 shares during the period. Swedbank AB purchased a new position in Pfizer in the first quarter worth about $172,902,000. International Assets Investment Management LLC bought a new stake in shares of Pfizer during the 3rd quarter valued at about $146,481,000. 1832 Asset Management L.P. increased its position in shares of Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after purchasing an additional 2,487,919 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Pfizer by 120.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,498,313 shares of the biopharmaceutical company’s stock worth $130,181,000 after purchasing an additional 2,459,666 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Up 0.4 %

Shares of PFE opened at $27.46 on Friday. The firm has a market cap of $155.62 billion, a P/E ratio of 37.11, a price-to-earnings-growth ratio of 0.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54. The company has a 50 day simple moving average of $28.96 and a two-hundred day simple moving average of $28.64.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the company posted ($0.17) earnings per share. On average, equities analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.12%. Pfizer’s dividend payout ratio is currently 227.03%.

Analysts Set New Price Targets

Several analysts recently issued reports on PFE shares. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Citigroup assumed coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. Finally, UBS Group raised their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.

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.