MAI Capital Management Buys 11,381 Shares of Pfizer Inc. (NYSE:PFE)

MAI Capital Management increased its stake in Pfizer Inc. (NYSE:PFE) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 697,658 shares of the biopharmaceutical company’s stock after purchasing an additional 11,381 shares during the quarter. MAI Capital Management’s holdings in Pfizer were worth $20,190,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PFE. Marshall Wace LLP grew its stake in Pfizer by 279.3% in the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares during the last quarter. Swedbank AB acquired a new stake in shares of Pfizer in the first quarter valued at about $172,902,000. International Assets Investment Management LLC bought a new position in shares of Pfizer in the third quarter worth about $146,481,000. 1832 Asset Management L.P. lifted its position in shares of 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 purchasing an additional 2,487,919 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Pfizer by 120.7% during the 3rd 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 purchasing an additional 2,459,666 shares during the period. Institutional investors own 68.36% of the company’s stock.

Insider Activity

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 purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PFE. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Finally, StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Price Performance

Shares of PFE stock opened at $24.80 on Monday. The stock’s fifty day simple moving average is $28.64 and its 200 day simple moving average is $28.67. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The firm has a market cap of $140.54 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 0.79 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. On average, analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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 6.77%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

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.