Pfizer Inc. (NYSE:PFE) Shares Sold by Port Capital LLC

Port Capital LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,958 shares of the biopharmaceutical company’s stock after selling 1,428 shares during the quarter. Port Capital LLC’s holdings in Pfizer were worth $230,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank raised 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 worth $486,762,000 after acquiring an additional 100,900 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Pfizer by 11.0% during the 3rd 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 buying an additional 12,864,343 shares during the period. Empowered Funds LLC lifted its stake in shares of Pfizer by 80.9% in 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 lifted its position in Pfizer by 394.2% during the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after buying an additional 41,668 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of 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 buying an additional 639,985 shares in the last quarter. Institutional investors and hedge funds 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 company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Citigroup started coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Trading Down 1.0 %

Shares of PFE stock opened at $25.56 on Wednesday. The company has a market capitalization of $144.85 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. The firm has a 50 day moving average price of $27.68 and a two-hundred day moving average price of $28.45. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) EPS. As a group, analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend was Friday, November 8th. Pfizer’s payout ratio is currently 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.