Avanza Fonder AB bought a new position in shares of Pfizer Inc. (NYSE:PFE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 597,710 shares of the biopharmaceutical company's stock, valued at approximately $15,857,000. Pfizer accounts for 0.5% of Avanza Fonder AB's investment portfolio, making the stock its 28th biggest position.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 12,864,343 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company's stock worth $150,481,000 after buying an additional 8,378,173 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company's stock valued at $1,101,713,000 after acquiring an additional 6,977,587 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Pfizer in the third quarter worth $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company's stock worth $211,737,000 after acquiring an additional 4,546,809 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.
Pfizer Price Performance
Pfizer stock traded down $0.19 during trading hours on Friday, hitting $26.30. 35,133,333 shares of the stock were exchanged, compared to its average volume of 33,528,273. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The business's 50-day moving average is $26.09 and its two-hundred day moving average is $28.00. 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 stock has a market capitalization of $149.06 billion, a P/E ratio of 35.55, a P/E/G ratio of 0.64 and a beta of 0.64.
Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during 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 business's revenue was up 31.2% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. Equities research analysts expect that Pfizer Inc. will post 2.94 EPS for the current fiscal year.
Pfizer Increases Dividend
The business also recently declared 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. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.54%. Pfizer's dividend payout ratio is 227.03%.
Insiders Place Their Bets
In related news, Director Scott Gottlieb bought 1,000 shares of Pfizer 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 completion of the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company's stock.
Analyst Ratings Changes
PFE has been the topic of several research reports. Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They set an "underperform" rating and a $25.00 price objective on the stock. Bank of America restated a "neutral" rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They set a "market perform" rating and a $32.00 price objective on the stock. Finally, Truist Financial cut their target price on Pfizer from $36.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have assigned 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, the company presently has an average rating of "Moderate Buy" and an average target price of $32.00.
Read Our Latest Analysis on Pfizer
Pfizer Company Profile
(
Free Report)
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.
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