Pfizer Inc. (NYSE:PFE) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its position in Pfizer Inc. (NYSE:PFE) by 13.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,269 shares of the biopharmaceutical company’s stock after selling 4,008 shares during the quarter. Pitcairn Co.’s holdings in Pfizer were worth $760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position 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 worth $3,766,366,000 after acquiring an additional 12,864,343 shares during the period. Massachusetts Financial Services Co. MA grew its stake 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 acquiring an additional 2,241,609 shares during the last quarter. Swiss National Bank increased its stake in shares of Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after purchasing an additional 100,900 shares in the last quarter. Van ECK Associates Corp increased its position in Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after buying an additional 456,168 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in Pfizer by 4.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock worth $479,073,000 after purchasing an additional 658,420 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Up 2.1 %

NYSE:PFE opened at $25.65 on Monday. The stock has a market cap of $145.36 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 0.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The business has a fifty day moving average of $28.21 and a 200-day moving average of $28.57. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last issued 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 company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period last year, the firm earned ($0.17) EPS. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.55%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PFE shares. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. UBS Group upped their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Citigroup assumed coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Insider Activity

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.

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.