Pfizer Inc. (NYSE:PFE) Stake Trimmed by Cim Investment Management Inc.

Cim Investment Management Inc. cut its position in shares of Pfizer Inc. (NYSE:PFE) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,156 shares of the biopharmaceutical company’s stock after selling 654 shares during the quarter. Cim Investment Management Inc.’s holdings in Pfizer were worth $496,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PFE. Swiss National Bank boosted its stake in Pfizer by 0.6% in 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 during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pfizer by 11.0% in the third 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 in the last quarter. Empowered Funds LLC boosted its position 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 buying an additional 227,349 shares during the period. Addison Advisors LLC grew 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 valued at $1,512,000 after buying an additional 41,668 shares in the last quarter. Finally, KBC Group NV raised its position in Pfizer by 26.0% during the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after buying an additional 639,985 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Up 0.6 %

Shares of PFE stock opened at $25.37 on Friday. The stock’s 50 day simple moving average is $27.23 and its 200 day simple moving average is $28.29. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. 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 company has a market capitalization of $143.77 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, research analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The company also recently announced 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. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.78%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of research reports. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target on the stock. Finally, Guggenheim cut their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.43.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer 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.