Los Angeles Capital Management LLC Purchases 985,058 Shares of Pfizer Inc. (NYSE:PFE)

Los Angeles Capital Management LLC increased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 51.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,884,493 shares of the biopharmaceutical company's stock after buying an additional 985,058 shares during the period. Los Angeles Capital Management LLC owned 0.05% of Pfizer worth $83,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company's stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp lifted its position in Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company's stock valued at $477,929,000 after purchasing an additional 456,168 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company's stock worth $417,561,000 after buying an additional 470,003 shares in the last quarter. National Pension Service increased its holdings in shares of Pfizer by 18.1% in the 3rd quarter. National Pension Service now owns 11,516,769 shares of the biopharmaceutical company's stock worth $333,295,000 after buying an additional 1,762,520 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company's stock valued at $287,077,000 after buying an additional 238,850 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Down 1.2 %

PFE stock traded down $0.32 during mid-day trading on Friday, reaching $26.72. The company had a trading volume of 55,951,315 shares, compared to its average volume of 38,136,520. The company has a market capitalization of $151.42 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. The firm has a 50 day moving average of $28.89 and a 200 day moving average of $28.65. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.60.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data 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 company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the business posted ($0.17) EPS. Pfizer's quarterly revenue was up 31.2% on a year-over-year basis. On average, equities analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

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 paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer's dividend payout ratio (DPR) is presently 227.03%.

Wall Street Analysts Forecast Growth

PFE has been the subject of several recent research reports. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 31st. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They set a "market perform" rating and a $32.00 price target on the stock. UBS Group lifted 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. StockNews.com raised shares of Pfizer from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. Finally, Daiwa Capital Markets raised shares of Pfizer from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.58.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company's stock, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Pfizer Company 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.