Pfizer Inc. (NYSE:PFE) Stock Position Raised by Callahan Advisors LLC

Callahan Advisors LLC raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 8.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 419,139 shares of the biopharmaceutical company’s stock after purchasing an additional 33,762 shares during the period. Pfizer accounts for about 1.2% of Callahan Advisors LLC’s holdings, making the stock its 29th biggest position. Callahan Advisors LLC’s holdings in Pfizer were worth $12,130,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Olistico Wealth LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer during the 2nd quarter worth about $29,000. Quarry LP bought a new position in shares of Pfizer during the 2nd quarter worth about $31,000. Financial Connections Group Inc. bought a new position in shares of Pfizer during the 2nd quarter worth about $34,000. Finally, ESL Trust Services LLC bought a new position in shares of Pfizer during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PFE. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Stock Up 0.8 %

Shares of PFE stock opened at $27.98 on Wednesday. The firm has a fifty day moving average of $28.99 and a 200-day moving average of $28.65. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The company has a market capitalization of $158.55 billion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 0.89 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings data 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. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 6.00%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

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.