TrinityPoint Wealth LLC Raises Stock Holdings in Pfizer Inc. (NYSE:PFE)

TrinityPoint Wealth LLC grew its holdings in Pfizer Inc. (NYSE:PFE) by 85.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 191,544 shares of the biopharmaceutical company’s stock after buying an additional 88,258 shares during the quarter. Pfizer accounts for 0.8% of TrinityPoint Wealth LLC’s investment portfolio, making the stock its 27th largest position. TrinityPoint Wealth LLC’s holdings in Pfizer were worth $5,543,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. purchased a new stake in Pfizer during the 1st quarter worth approximately $315,000. Edgestream Partners L.P. acquired a new stake in shares of Pfizer in the first quarter worth approximately $243,000. Hillsdale Investment Management Inc. increased its position in shares of Pfizer by 111.3% during the first quarter. Hillsdale Investment Management Inc. now owns 3,132 shares of the biopharmaceutical company’s stock worth $87,000 after purchasing an additional 1,650 shares in the last quarter. Rockport Wealth LLC acquired a new position in Pfizer in the 1st quarter valued at $294,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Pfizer by 7.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 317,495 shares of the biopharmaceutical company’s stock valued at $8,810,000 after purchasing an additional 20,950 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were 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 trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Trading Down 4.7 %

Shares of PFE stock opened at $24.80 on Monday. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The firm has a market cap of $140.54 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. The company has a 50-day moving average of $28.64 and a two-hundred day moving average of $28.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last posted its quarterly earnings data 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 16.28%. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the company posted ($0.17) EPS. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. On average, analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

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 paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.77%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is 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.