New England Asset Management Inc. Increases Stake in Pfizer Inc. (NYSE:PFE)

New England Asset Management Inc. lifted its stake in Pfizer Inc. (NYSE:PFE) by 0.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 175,813 shares of the biopharmaceutical company’s stock after buying an additional 515 shares during the quarter. New England Asset Management Inc.’s holdings in Pfizer were worth $5,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in 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 worth $2,008,798,000 after acquiring an additional 2,241,609 shares during the last quarter. Swiss National Bank boosted its position in shares of Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after acquiring an additional 100,900 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Pfizer by 2.8% in the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after purchasing an additional 456,168 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in Pfizer by 4.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock worth $479,073,000 after purchasing an additional 658,420 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after purchasing an additional 470,003 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.3 %

NYSE:PFE opened at $24.88 on Tuesday. The company has a market cap of $140.97 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. 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 stock has a fifty day simple moving average of $28.55 and a 200-day simple moving average of $28.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) EPS. Analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.75%. Pfizer’s payout ratio is currently 227.03%.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PFE shares. Wolfe Research initiated coverage on shares of Pfizer in a research note on Friday. They issued an “underperform” rating and a $25.00 price objective for the company. 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. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective on the stock. Barclays lifted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

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.