Independent Advisor Alliance Has $6.79 Million Stake in Pfizer Inc. (NYSE:PFE)

Independent Advisor Alliance grew its holdings in Pfizer Inc. (NYSE:PFE) by 11.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,455 shares of the biopharmaceutical company’s stock after purchasing an additional 23,772 shares during the quarter. Independent Advisor Alliance’s holdings in Pfizer were worth $6,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 12,864,343 shares during the period. Massachusetts Financial Services Co. MA grew its position in Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Swiss National Bank raised its holdings in Pfizer by 0.6% during the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after buying an additional 100,900 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Pfizer by 2.8% in the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after buying an additional 456,168 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Pfizer by 4.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock valued at $479,073,000 after buying an additional 658,420 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.65 on Monday. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock has a market cap of $145.36 billion, a P/E ratio of 34.66, a P/E/G ratio of 0.82 and a beta of 0.67. The company has a 50 day moving average of $28.21 and a 200 day moving average of $28.57.

Pfizer (NYSE:PFE) last announced its 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. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) EPS. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

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 $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.55%. Pfizer’s dividend payout ratio is presently 227.03%.

Insider Activity

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $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 is available at this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and an average target price of $32.92.

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.