Bonness Enterprises Inc. Grows Stock Position in Pfizer Inc. (NYSE:PFE)

Bonness Enterprises Inc. raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,508 shares of the biopharmaceutical company’s stock after acquiring an additional 5,300 shares during the quarter. Pfizer makes up 1.5% of Bonness Enterprises Inc.’s investment portfolio, making the stock its 15th largest position. Bonness Enterprises Inc.’s holdings in Pfizer were worth $4,285,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after acquiring an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Pfizer by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after purchasing an additional 1,855,419 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Pfizer by 0.6% in the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after buying an additional 100,900 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PFE. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. Finally, Guggenheim cut their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Pfizer Price Performance

PFE opened at $26.30 on Tuesday. The company has a 50 day moving average of $26.08 and a two-hundred day moving average of $27.99. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market cap of $149.06 billion, a P/E ratio of 35.55, a P/E/G ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the prior year, the firm earned ($0.17) EPS. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, analysts expect that Pfizer Inc. will post 2.94 earnings per share for the current year.

Pfizer Increases Dividend

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