Pfizer Inc. (NYSE:PFE) Stock Position Raised by OLD National Bancorp IN

OLD National Bancorp IN raised its position in shares of Pfizer Inc. (NYSE:PFE) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,908 shares of the biopharmaceutical company’s stock after purchasing an additional 23,008 shares during the period. OLD National Bancorp IN’s holdings in Pfizer were worth $10,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after acquiring an additional 290,760 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Pfizer by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after acquiring an additional 238,850 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its stake in shares of Pfizer by 10.3% in the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock valued at $274,302,000 after acquiring an additional 912,156 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

PFE stock traded down $0.05 during trading on Friday, hitting $29.22. The company had a trading volume of 24,244,872 shares, compared to its average volume of 37,106,250. The company has a fifty day moving average price of $29.07 and a two-hundred day moving average price of $28.44. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a market cap of $165.58 billion, a P/E ratio of -487.00, a P/E/G ratio of 1.02 and a beta of 0.67. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 EPS. Equities research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday. They issued a “market perform” rating and a $32.00 price objective on the stock. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.91.

About Pfizer

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.