Spinnaker Trust Raises Holdings in Pfizer Inc. (NYSE:PFE)

Spinnaker Trust increased its stake in Pfizer Inc. (NYSE:PFE) by 78.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,160 shares of the biopharmaceutical company’s stock after acquiring an additional 37,829 shares during the period. Spinnaker Trust’s holdings in Pfizer were worth $2,481,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its stake in shares of Pfizer by 40.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after acquiring an additional 1,365,295 shares in the last quarter. LifePlan Financial LLC bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $255,000. Brookstone Capital Management raised its stake in shares of Pfizer by 88.5% during the third quarter. Brookstone Capital Management now owns 452,352 shares of the biopharmaceutical company’s stock valued at $14,109,000 after acquiring an additional 212,369 shares in the last quarter. ETF Store Inc. raised its stake in shares of Pfizer by 12.0% during the third quarter. ETF Store Inc. now owns 6,803 shares of the biopharmaceutical company’s stock valued at $214,000 after acquiring an additional 727 shares in the last quarter. Finally, KLCM Advisors Inc. raised its stake in Pfizer by 75.0% in the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock worth $5,004,000 after buying an additional 74,487 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PFE. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. TD Cowen downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research note on Thursday, January 4th. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Guggenheim began coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and an average target price of $36.33.

Pfizer Stock Performance

NYSE PFE traded up $0.14 on Friday, reaching $25.40. 46,526,457 shares of the company’s stock traded hands, compared to its average volume of 34,120,812. The firm has a market cap of $143.83 billion, a price-to-earnings ratio of 70.56, a P/E/G ratio of 1.14 and a beta of 0.61. The stock has a 50 day moving average price of $26.96 and a 200-day moving average price of $28.42. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $40.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.37 billion. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The firm’s quarterly revenue was down 41.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. Equities research analysts predict that Pfizer Inc. will post 2.24 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.61%. Pfizer’s dividend payout ratio (DPR) is currently 466.67%.

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.