Connable Office Inc. Sells 14,465 Shares of Pfizer Inc. (NYSE:PFE)

Connable Office Inc. lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 32.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,097 shares of the biopharmaceutical company’s stock after selling 14,465 shares during the period. Connable Office Inc.’s holdings in Pfizer were worth $871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Marshall Wace LLP increased its position in Pfizer by 279.3% during 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 in the last quarter. Swedbank AB bought a new position in shares of Pfizer during the first quarter valued at $172,902,000. International Assets Investment Management LLC purchased a new position in shares of Pfizer in the 3rd quarter worth about $146,481,000. 1832 Asset Management L.P. boosted its stake in Pfizer by 24,961.6% in 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position 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 last quarter. Hedge funds and other institutional investors 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 stock was acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PFE has been the topic of several analyst reports. Sanford C. Bernstein assumed 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 on the stock. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Wolfe Research initiated coverage on Pfizer in a report on Friday. They issued an “underperform” rating and a $25.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Stock Down 2.6 %

Shares of PFE stock opened at $26.02 on Friday. 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 12 month low of $25.20 and a 12 month high of $31.54. The stock has a market cap of $147.46 billion, a P/E ratio of 35.16, a P/E/G ratio of 0.85 and a beta of 0.67. The company has a 50 day simple moving average of $28.76 and a two-hundred day simple moving average of $28.67.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) EPS. On average, research analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is 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.