Pfizer Inc. (NYSE:PFE) Shares Sold by Conning Inc.

Conning Inc. trimmed its position in Pfizer Inc. (NYSE:PFE) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,086 shares of the biopharmaceutical company’s stock after selling 1,823 shares during the quarter. Conning Inc.’s holdings in Pfizer were worth $2,231,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Marshall Wace LLP raised its stake in Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares in the last quarter. Swedbank AB purchased a new position in shares of Pfizer in the 1st quarter valued at about $172,902,000. International Assets Investment Management LLC acquired a new stake in shares of Pfizer during the 3rd quarter worth about $146,481,000. Pzena Investment Management LLC boosted its holdings in Pfizer by 181.6% in the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after purchasing an additional 4,947,000 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Pfizer by 24,961.6% during the second quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock worth $69,891,000 after purchasing an additional 2,487,919 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 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 in the company, valued at $282,400. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.

Pfizer Stock Performance

Shares of PFE opened at $28.09 on Friday. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54. The stock has a market capitalization of $159.18 billion, a P/E ratio of 37.96, a P/E/G ratio of 0.90 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company’s fifty day moving average is $29.03 and its two-hundred day moving average is $28.59.

Pfizer (NYSE:PFE) last posted its quarterly 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 16.40%. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently 227.03%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PFE. 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 research report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Citigroup started coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average price target of $33.58.

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.