Granite Group Advisors LLC Has $1.27 Million Position in Pfizer Inc. (NYSE:PFE)

Granite Group Advisors LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,844 shares of the biopharmaceutical company’s stock after selling 1,042 shares during the quarter. Pfizer makes up 0.8% of Granite Group Advisors LLC’s holdings, making the stock its 27th biggest holding. Granite Group Advisors LLC’s holdings in Pfizer were worth $1,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PFE. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after acquiring an additional 2,241,609 shares during the period. Van ECK Associates Corp grew its stake in Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after purchasing an additional 456,168 shares during the period. Federated Hermes Inc. increased its holdings in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares in the last quarter. National Pension Service lifted its stake in Pfizer by 18.1% in the third quarter. National Pension Service now owns 11,516,769 shares of the biopharmaceutical company’s stock valued at $333,295,000 after buying an additional 1,762,520 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after buying an additional 238,850 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PFE shares. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.46 during midday trading on Friday, reaching $27.00. The company’s stock had a trading volume of 8,356,099 shares, compared to its average volume of 37,347,684. The stock has a market capitalization of $153.01 billion, a P/E ratio of 37.11, a PEG ratio of 0.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a 50 day moving average price of $28.96 and a 200-day moving average price of $28.64. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54.

Pfizer (NYSE:PFE) last announced 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 firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. As a group, equities analysts predict 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. Investors of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.22%. Pfizer’s payout ratio is 227.03%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.