Payden & Rygel Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Payden & Rygel raised its stake in Pfizer Inc. (NYSE:PFE) by 947.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 313,980 shares of the biopharmaceutical company’s stock after purchasing an additional 284,000 shares during the quarter. Payden & Rygel’s holdings in Pfizer were worth $9,087,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PFE. FAS Wealth Partners Inc. grew its position in shares of Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after purchasing an additional 342 shares during the last quarter. Sachetta LLC increased its position in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 342 shares during the period. Wells Trecaso Financial Group LLC boosted its position in shares of Pfizer by 2.5% in the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares during the period. Ironvine Capital Partners LLC raised its stake in Pfizer by 2.1% during the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 353 shares during the last quarter. Finally, Secure Asset Management LLC raised its position in shares of Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 353 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

PFE has been the topic of several research reports. Citigroup initiated coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Stock Down 0.6 %

Shares of NYSE:PFE opened at $24.95 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock has a market cap of $141.36 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 0.80 and a beta of 0.67. The company has a 50 day moving average of $28.36 and a 200-day moving average of $28.61. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings results 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the business posted ($0.17) EPS. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. On average, sell-side analysts forecast that Pfizer Inc. will post 2.95 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 given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is currently 227.03%.

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.