Patrick M Sweeney & Associates Inc. Has $2.08 Million Position in Pfizer Inc. (NYSE:PFE)

Patrick M Sweeney & Associates Inc. increased its position in Pfizer Inc. (NYSE:PFE) by 65.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 78,318 shares of the biopharmaceutical company’s stock after purchasing an additional 30,940 shares during the quarter. Pfizer accounts for 2.4% of Patrick M Sweeney & Associates Inc.’s portfolio, making the stock its 14th biggest holding. Patrick M Sweeney & Associates Inc.’s holdings in Pfizer were worth $2,078,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PFE. Swiss National Bank boosted its stake in Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after purchasing an additional 100,900 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 11.0% during 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. Empowered Funds LLC boosted its stake in Pfizer by 80.9% during the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock valued at $14,709,000 after purchasing an additional 227,349 shares during the last quarter. Addison Advisors LLC boosted its stake in Pfizer by 394.2% during the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after purchasing an additional 41,668 shares during the last quarter. Finally, KBC Group NV boosted its stake in Pfizer by 26.0% during the 3rd quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after purchasing an additional 639,985 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PFE shares. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. UBS Group lowered their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citigroup lowered their target price on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Wolfe Research started coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Up 2.9 %

Shares of NYSE:PFE opened at $26.86 on Tuesday. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The firm has a fifty day moving average of $26.11 and a 200 day moving average of $27.94. The firm has a market capitalization of $152.19 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last announced its earnings results 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 16.28%. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, research analysts anticipate that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.40%. Pfizer’s payout ratio is currently 227.03%.

Insider Activity

In other news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

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.