State Street Corp Boosts Stock Holdings in Pfizer Inc. (NYSE:PFE)

State Street Corp lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 290,460,600 shares of the biopharmaceutical company’s stock after acquiring an additional 3,405,539 shares during the quarter. State Street Corp owned 5.13% of Pfizer worth $8,405,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Swiss National Bank increased its position in shares of Pfizer by 0.6% in the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after purchasing an additional 100,900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Empowered Funds LLC increased its stake in Pfizer by 80.9% in the third quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock valued at $14,709,000 after purchasing an additional 227,349 shares during the last quarter. Addison Advisors LLC increased its stake in Pfizer by 394.2% in the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after purchasing an additional 41,668 shares during the last quarter. Finally, KBC Group NV increased its stake in Pfizer by 26.0% in the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after purchasing an additional 639,985 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE opened at $25.23 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market cap of $142.98 billion, a P/E ratio of 34.10, a P/E/G ratio of 0.69 and a beta of 0.65. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The firm’s 50 day moving average is $27.60 and its two-hundred day moving average is $28.42.

Pfizer (NYSE:PFE) last announced 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the business posted ($0.17) EPS. The company’s revenue was up 31.2% on a year-over-year basis. Analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 6.66%. Pfizer’s dividend payout ratio is currently 227.03%.

Analysts Set New Price Targets

PFE has been the topic of a number of research reports. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

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.