Cove Private Wealth LLC Buys 80,650 Shares of Pfizer Inc. (NYSE:PFE)

Cove Private Wealth LLC raised its stake in Pfizer Inc. (NYSE:PFE) by 693.5% in the 4th quarter, HoldingsChannel reports. The firm owned 92,280 shares of the biopharmaceutical company’s stock after acquiring an additional 80,650 shares during the quarter. Pfizer makes up 1.5% of Cove Private Wealth LLC’s portfolio, 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.

Other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in Pfizer during the fourth quarter worth $26,000. Gladius Capital Management LP increased its position in shares of 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 acquiring an additional 38,015 shares in the last quarter. Quarry LP bought a new position in Pfizer in the 2nd quarter valued at about $31,000. Teachers Insurance & Annuity Association of America acquired a new position in Pfizer during the 3rd quarter valued at about $35,000. Finally, Joseph Group Capital Management increased 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 worth $36,000 after purchasing an additional 771 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. UBS Group dropped their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Citigroup began coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Price Performance

Shares of NYSE:PFE opened at $26.30 on Monday. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market capitalization of $149.06 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 0.64 and a beta of 0.64. The company’s fifty day moving average price is $26.08 and its 200-day moving average price is $27.99.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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 company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) earnings per share. On average, equities research analysts anticipate that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date 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.