First Horizon Advisors Inc. Grows Stake in Pfizer Inc. (NYSE:PFE)

First Horizon Advisors Inc. grew its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 16.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 691,228 shares of the biopharmaceutical company's stock after acquiring an additional 95,749 shares during the period. First Horizon Advisors Inc.'s holdings in Pfizer were worth $20,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Advisors Asset Management Inc. raised its holdings in shares of Pfizer by 4.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 689,185 shares of the biopharmaceutical company's stock worth $19,945,000 after acquiring an additional 28,704 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Pfizer by 67.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,801 shares of the biopharmaceutical company's stock worth $428,000 after purchasing an additional 5,959 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Pfizer in the third quarter worth approximately $2,123,000. Prospera Private Wealth LLC lifted its holdings in shares of Pfizer by 13.9% in the third quarter. Prospera Private Wealth LLC now owns 28,101 shares of the biopharmaceutical company's stock valued at $813,000 after purchasing an additional 3,425 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of Pfizer by 1.6% during the third quarter. Avior Wealth Management LLC now owns 52,177 shares of the biopharmaceutical company's stock valued at $1,510,000 after buying an additional 798 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Daiwa Capital Markets upgraded Pfizer from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a "market perform" rating and a $32.00 price objective for the company. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 31st. Cantor Fitzgerald restated an "overweight" rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded Pfizer from a "strong-buy" rating to a "buy" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.92.

Insider Activity

In other news, Director Scott Gottlieb purchased 1,000 shares of the company's stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost 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 in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Pfizer Trading Down 0.6 %

Pfizer stock traded down $0.16 during trading on Wednesday, reaching $24.95. 46,016,745 shares of the company were exchanged, compared to its average volume of 38,444,336. The stock's 50 day simple moving average is $28.45 and its two-hundred day simple moving average is $28.63. The company has a market capitalization of $141.36 billion, a P/E 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 current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the previous year, the firm earned ($0.17) EPS. The company's quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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

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.