King Luther Capital Management Corp Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

King Luther Capital Management Corp grew its stake in Pfizer Inc. (NYSE:PFE) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,501,015 shares of the biopharmaceutical company’s stock after buying an additional 143,833 shares during the quarter. King Luther Capital Management Corp’s holdings in Pfizer were worth $72,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Olistico Wealth LLC acquired a new position in Pfizer in the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the second quarter valued at approximately $29,000. Gladius Capital Management LP raised its holdings in shares of Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares during the last quarter. Quarry LP acquired a new position in shares of Pfizer during the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 0.6 %

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

Pfizer (NYSE:PFE) last posted its quarterly 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 firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the prior year, the firm posted ($0.17) EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. Research analysts forecast that Pfizer Inc. will post 2.95 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 given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.73%. Pfizer’s payout ratio is 227.03%.

Analyst Ratings Changes

Several research analysts recently weighed in on PFE shares. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Citigroup began coverage on shares of 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 report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed 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 assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Activity

In related 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 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 represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.