Baker Chad R reduced its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 49.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,500 shares of the biopharmaceutical company's stock after selling 12,000 shares during the period. Baker Chad R's holdings in Pfizer were worth $332,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of PFE. State Street Corp grew its position in shares of Pfizer by 1.2% during the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company's stock valued at $8,405,930,000 after acquiring an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 during the period. Geode Capital Management LLC increased its position in shares of Pfizer by 1.6% in the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company's stock valued at $3,392,342,000 after buying an additional 1,855,419 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Pfizer by 22.4% during the 3rd 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 worth $1,101,713,000 after buying an additional 6,977,587 shares during the period. Finally, Swiss National Bank lifted its position 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 valued at $486,762,000 after buying an additional 100,900 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.
Insider Transactions at Pfizer
In related news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company's stock.
Analysts Set New Price Targets
PFE has been the subject of several recent research reports. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a "market perform" rating and a $32.00 target price on the stock. Citigroup assumed coverage on Pfizer in a research note on Friday, October 25th. They set a "neutral" rating and a $30.00 price objective on the stock. Wolfe Research assumed coverage on Pfizer in a research note on Friday, November 15th. They issued an "underperform" rating and a $25.00 target price for the company. StockNews.com cut shares of Pfizer from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th. Finally, Evercore ISI upgraded shares of Pfizer to a "strong-buy" rating in a research report on Wednesday, October 30th. One equities 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.
View Our Latest Stock Report on PFE
Pfizer Stock Down 0.7 %
Pfizer stock traded down $0.19 during mid-day trading on Friday, hitting $26.30. The company had a trading volume of 35,146,711 shares, compared to its average volume of 35,869,448. The business has a fifty day moving average of $26.08 and a 200 day moving average of $27.99. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock has a market cap of $149.06 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 0.64 and a beta of 0.64.
Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company's revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. On average, sell-side analysts expect that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.
Pfizer Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a $0.43 dividend. This is an increase from Pfizer's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.54%. Pfizer's payout ratio is presently 227.03%.
Pfizer Profile
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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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