Asset Management Group Inc. Grows Stake in Pfizer Inc. (NYSE:PFE)

Asset Management Group Inc. lifted its stake in Pfizer Inc. (NYSE:PFE) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,878 shares of the biopharmaceutical company’s stock after buying an additional 875 shares during the period. Asset Management Group Inc.’s holdings in Pfizer were worth $1,501,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

PFE has been the topic of a number of analyst reports. Barclays lifted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Citigroup began coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Sanford C. Bernstein began coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Trading Up 0.5 %

Shares of NYSE PFE opened at $25.06 on Friday. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The company has a market cap of $142.03 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 0.80 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $28.28 and its 200 day simple moving average is $28.58.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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 analysts’ expectations of $14.92 billion. During the same period last year, the business posted ($0.17) earnings per share. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. Equities research 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 will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 6.70%. Pfizer’s payout ratio is currently 227.03%.

Insider Activity

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. Corporate insiders own 0.06% of the company’s stock.

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.