Advisors Asset Management Inc. Acquires 28,704 Shares of Pfizer Inc. (NYSE:PFE)

Advisors Asset Management Inc. grew its position in Pfizer Inc. (NYSE:PFE) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 689,185 shares of the biopharmaceutical company’s stock after acquiring an additional 28,704 shares during the quarter. Advisors Asset Management Inc.’s holdings in Pfizer were worth $19,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFE. Swiss National Bank lifted 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 period. Empowered Funds LLC raised its stake in shares of Pfizer by 80.9% in the third quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock worth $14,709,000 after purchasing an additional 227,349 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of Pfizer by 394.2% during the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock worth $1,512,000 after purchasing an additional 41,668 shares during the last quarter. KBC Group NV lifted its holdings in Pfizer by 26.0% in the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after acquiring an additional 639,985 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Pfizer by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after buying an additional 544,418 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Up 1.0 %

Shares of Pfizer stock opened at $25.10 on Wednesday. The company has a market capitalization of $142.24 billion, a PE ratio of 33.92, a P/E/G ratio of 0.79 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business has a 50-day moving average of $28.45 and a 200-day moving average of $28.63. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the business posted ($0.17) earnings per share. As a group, equities analysts forecast that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.69%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Analysts Set New Price Targets

PFE has been the topic of several research analyst reports. Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group raised their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Finally, Wolfe Research assumed coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly 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 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 insiders.

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.