Massachusetts Financial Services Co. MA reduced its position in Pfizer Inc. (NYSE:PFE - Free Report) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,151,857 shares of the biopharmaceutical company's stock after selling 642,199 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.26% of Pfizer worth $2,059,135,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of PFE. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer during the 2nd quarter valued at approximately $29,000. Gladius Capital Management LP grew its stake in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 38,015 shares during the last quarter. Quarry LP acquired a new position in shares of Pfizer in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the second quarter worth approximately $34,000. 68.36% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on PFE. Evercore ISI raised shares of Pfizer to a "strong-buy" rating in a research note on Wednesday, October 30th. Daiwa Capital Markets raised Pfizer from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays increased their target price on Pfizer from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 31st. Wolfe Research started coverage on Pfizer in a research note on Friday, November 15th. They issued an "underperform" rating and a $25.00 price target on the stock. Finally, Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They issued a "neutral" rating and a $30.00 target price for the company. 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 given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $32.92.
View Our Latest Analysis on Pfizer
Pfizer Price Performance
NYSE:PFE traded up $0.12 during trading hours on Thursday, reaching $25.06. 34,540,022 shares of the company traded hands, compared to its average volume of 38,472,801. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The stock has a market cap of $142.03 billion, a P/E ratio of 33.65, a P/E/G ratio of 0.80 and a beta of 0.67. The firm's 50-day moving average is $28.36 and its 200-day moving average is $28.61. 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 (NYSE:PFE - Get Free Report) last released 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 firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the company posted ($0.17) EPS. Pfizer's revenue for the quarter was up 31.2% on a year-over-year basis. Equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.
Pfizer Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer's dividend payout ratio (DPR) is presently 227.03%.
Insider Transactions at Pfizer
In other news, Director Scott Gottlieb acquired 1,000 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.
Pfizer Company 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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