Pfizer Inc. (NYSE:PFE) Shares Bought by Montecito Bank & Trust

Montecito Bank & Trust grew its holdings in Pfizer Inc. (NYSE:PFE) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,592 shares of the biopharmaceutical company’s stock after purchasing an additional 5,217 shares during the quarter. Montecito Bank & Trust’s holdings in Pfizer were worth $1,204,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PFE. Olistico Wealth LLC purchased a new position in Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer during the 2nd quarter worth about $29,000. Quarry LP acquired a new position in Pfizer in the 2nd quarter valued at about $31,000. Financial Connections Group Inc. acquired a new position in Pfizer in the 2nd quarter valued at about $34,000. Finally, ESL Trust Services LLC purchased a new position in Pfizer in the 1st quarter valued at about $37,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Trading Down 2.3 %

Shares of PFE stock opened at $27.35 on Thursday. 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 fifty-two week low of $25.20 and a fifty-two week high of $31.54. The firm’s 50 day moving average price is $28.96 and its two-hundred day moving average price is $28.64. The stock has a market cap of $154.98 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 0.88 and a beta of 0.67.

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

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently 227.03%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PFE. Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Finally, UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Eight 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

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.