Sumitomo Mitsui Trust Group Inc. Has $379.66 Million Stake in Pfizer Inc. (NYSE:PFE)

Sumitomo Mitsui Trust Group Inc. raised its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,118,764 shares of the biopharmaceutical company's stock after acquiring an additional 544,418 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Pfizer worth $379,657,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Addison Advisors LLC boosted its stake 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. LGT Group Foundation increased its position in shares of Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company's stock worth $20,786,000 after purchasing an additional 18,274 shares during the last quarter. Radnor Capital Management LLC bought a new stake in shares of Pfizer in the 3rd quarter worth about $2,972,000. Kornitzer Capital Management Inc. KS grew its position in shares of Pfizer by 2.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 1,168,315 shares of the biopharmaceutical company's stock valued at $33,811,000 after buying an additional 27,562 shares during the last quarter. Finally, Costello Asset Management INC grew its position in Pfizer by 461.9% in the 3rd quarter. Costello Asset Management INC now owns 56,925 shares of the biopharmaceutical company's stock worth $1,647,000 after purchasing an additional 46,795 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Pfizer Price Performance

NYSE:PFE traded down $0.12 on Tuesday, reaching $26.12. The stock had a trading volume of 31,587,117 shares, compared to its average volume of 37,632,730. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The stock has a fifty day moving average price of $28.84 and a 200-day moving average price of $28.67. The company has a market capitalization of $148.02 billion, a P/E ratio of 35.32, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the business earned ($0.17) earnings per share. Pfizer's quarterly revenue was up 31.2% on a year-over-year basis. Research analysts forecast that Pfizer Inc. will post 2.96 EPS for the current 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 given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.43%. Pfizer's payout ratio is 227.03%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 31st. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a "market perform" rating and a $32.00 target price for the company. Daiwa Capital Markets raised shares of Pfizer from a "neutral" rating to an "outperform" rating and increased their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Evercore ISI raised shares of Pfizer to a "strong-buy" rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.