Payden & Rygel Raises Stock Holdings in Pfizer Inc. (NYSE:PFE)

Payden & Rygel increased its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 947.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 313,980 shares of the biopharmaceutical company's stock after buying an additional 284,000 shares during the period. Payden & Rygel's holdings in Pfizer were worth $9,087,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Swiss National Bank raised its position in shares of Pfizer by 0.6% in the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company's stock worth $486,762,000 after buying an additional 100,900 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Pfizer by 80.9% during the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company's stock valued at $14,709,000 after buying an additional 227,349 shares in the last quarter. Addison Advisors LLC lifted its position in Pfizer by 394.2% in the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company's stock worth $1,512,000 after buying an additional 41,668 shares during the last quarter. KBC Group NV raised its stake in shares of Pfizer by 26.0% during the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company's stock worth $89,872,000 after acquiring an additional 639,985 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Pfizer by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company's stock worth $379,657,000 after acquiring an additional 544,418 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price 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 in the company, valued at $282,400. The trade was 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 accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Pfizer Stock Down 0.1 %

PFE stock traded down $0.03 during trading on Thursday, hitting $24.91. 12,170,209 shares of the stock traded hands, compared to its average volume of 38,328,844. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock has a market cap of $141.16 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 0.80 and a beta of 0.67. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The firm's 50 day moving average is $28.36 and its two-hundred day moving average is $28.61.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during 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 firm's revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current 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 given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer's dividend payout ratio (DPR) is 227.03%.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a "market perform" rating and a $32.00 price target for the company. Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They set a "neutral" rating and a $30.00 price objective for the company. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 31st. Evercore ISI raised Pfizer to a "strong-buy" rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $32.92.

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.