Saturna Capital Corp Sells 23,050 Shares of Pfizer Inc. (NYSE:PFE)

Saturna Capital Corp lessened its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 778,150 shares of the biopharmaceutical company's stock after selling 23,050 shares during the quarter. Saturna Capital Corp's holdings in Pfizer were worth $22,520,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP grew its holdings in Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company's stock valued at $150,481,000 after purchasing an additional 8,378,173 shares during the last quarter. Swedbank AB acquired a new position in Pfizer in the 1st quarter valued at $172,902,000. International Assets Investment Management LLC bought a new position in Pfizer in the 3rd quarter worth $146,481,000. 1832 Asset Management L.P. lifted its position in Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company's stock worth $69,891,000 after acquiring an additional 2,487,919 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Pfizer by 120.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,498,313 shares of the biopharmaceutical company's stock valued at $130,181,000 after acquiring an additional 2,459,666 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

Insider Activity

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Pfizer Price Performance

Shares of Pfizer stock traded up $0.53 during midday trading on Wednesday, hitting $26.72. 47,944,807 shares of the company were exchanged, compared to its average volume of 37,776,984. The firm has a 50 day simple moving average of $28.80 and a 200-day simple moving average of $28.68. 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 firm has a market cap of $151.42 billion, a P/E ratio of 35.54, a PEG ratio of 0.83 and a beta of 0.67. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts' expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business's revenue was up 31.2% on a year-over-year basis. During the same period last year, the business earned ($0.17) earnings per share. Research analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed 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 6.29%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer's payout ratio is 227.03%.

Analyst Ratings Changes

A number of research firms have recently commented on PFE. StockNews.com upgraded Pfizer from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Sanford C. Bernstein began coverage on Pfizer in a research report on Thursday, October 17th. They issued a "market perform" rating and a $32.00 price objective for the company. Daiwa Capital Markets raised shares of Pfizer from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They set a "neutral" rating and a $30.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Pfizer presently has a consensus rating of "Moderate Buy" and an average target price of $33.58.

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.