Advisors Asset Management Inc. Increases Position in Pfizer Inc. (NYSE:PFE)

Advisors Asset Management Inc. increased its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 689,185 shares of the biopharmaceutical company's stock after buying an additional 28,704 shares during the quarter. Advisors Asset Management Inc.'s holdings in Pfizer were worth $19,945,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PFE. Swiss National Bank lifted its position in shares of Pfizer by 0.6% in 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. Empowered Funds LLC lifted its stake in shares of Pfizer by 80.9% in the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company's stock valued at $14,709,000 after purchasing an additional 227,349 shares during the period. Addison Advisors LLC increased its position in shares of Pfizer by 394.2% in the 3rd 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. KBC Group NV boosted its stake in shares of Pfizer by 26.0% during the 3rd quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company's stock worth $89,872,000 after buying an additional 639,985 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Pfizer by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company's stock valued at $379,657,000 after purchasing an additional 544,418 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Down 0.6 %

PFE traded down $0.16 on Wednesday, hitting $24.95. 46,016,745 shares of the company were exchanged, compared to its average volume of 38,444,336. The stock's fifty day moving average is $28.45 and its 200-day moving average is $28.63. The company has a market cap of $141.36 billion, a PE ratio of 33.70, a PEG ratio of 0.79 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. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the business posted ($0.17) EPS. The business's revenue was up 31.2% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.73%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer's dividend payout ratio is presently 227.03%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PFE shares. Evercore ISI raised shares of Pfizer to a "strong-buy" rating in a report on Wednesday, October 30th. Daiwa America raised shares of Pfizer from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, August 7th. Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a "neutral" rating and a $30.00 target price on the stock. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Finally, Barclays boosted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, July 31st. One 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.92.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $282,400. This represents a 11.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by corporate 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.