Victory Capital Management Inc. Has $100.90 Million Stake in Pfizer Inc. (NYSE:PFE)

Victory Capital Management Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 19.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,486,672 shares of the biopharmaceutical company's stock after selling 856,415 shares during the period. Victory Capital Management Inc. owned about 0.06% of Pfizer worth $100,904,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Pfizer in the 1st quarter valued at approximately $315,000. Koshinski Asset Management Inc. grew its stake in shares of Pfizer by 20.5% in the first quarter. Koshinski Asset Management Inc. now owns 24,265 shares of the biopharmaceutical company's stock valued at $673,000 after buying an additional 4,130 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its stake in Pfizer by 27.8% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 70,567 shares of the biopharmaceutical company's stock worth $1,958,000 after acquiring an additional 15,347 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Pfizer by 99.4% in the first quarter. Brighton Jones LLC now owns 122,276 shares of the biopharmaceutical company's stock valued at $3,393,000 after purchasing an additional 60,956 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Pfizer by 16.0% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 72,467 shares of the biopharmaceutical company's stock worth $2,011,000 after buying an additional 9,989 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

Analyst Ratings Changes

PFE has been the subject of a number of recent research reports. Daiwa Capital Markets upgraded Pfizer from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reissued an "overweight" rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Daiwa America raised Pfizer from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, August 7th. Finally, UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.58.

Pfizer Price Performance

PFE stock traded down $0.70 during trading on Thursday, hitting $26.02. The company had a trading volume of 44,548,988 shares, compared to its average volume of 37,807,910. The firm has a market capitalization of $147.46 billion, a price-to-earnings ratio of 35.74, a P/E/G ratio of 0.83 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average of $28.76 and a 200 day moving average of $28.67. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating 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 business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business earned ($0.17) earnings per share. The business's revenue for the quarter was up 31.2% on a year-over-year basis. As a group, research analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer's payout ratio is 227.03%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Pfizer 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.