Pfizer Inc. (NYSE:PFE) Stock Holdings Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,822,807 shares of the biopharmaceutical company’s stock after selling 164,507 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Pfizer worth $139,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFE. China Universal Asset Management Co. Ltd. bought a new stake in shares of Pfizer during the 1st quarter worth $315,000. Kennedy Capital Management LLC bought a new stake in shares of Pfizer during the 1st quarter worth $3,992,000. Tidal Investments LLC boosted its stake in shares of Pfizer by 6.8% during the 1st quarter. Tidal Investments LLC now owns 317,384 shares of the biopharmaceutical company’s stock worth $8,808,000 after acquiring an additional 20,241 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of Pfizer during the 1st quarter worth $368,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of Pfizer during the 1st quarter worth $220,000. 68.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Citigroup began coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.76 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The business has a fifty day simple moving average of $28.05 and a 200 day simple moving average of $28.54. The firm has a market cap of $145.98 billion, a price-to-earnings ratio of 34.81, a P/E/G ratio of 0.83 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share 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 company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue was up 31.2% compared to the same quarter last year. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced 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 6.52%. Pfizer’s dividend payout ratio (DPR) is currently 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.