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

Tidemark LLC reduced its holdings in Pfizer Inc. (NYSE:PFE) by 32.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,874 shares of the biopharmaceutical company’s stock after selling 1,371 shares during the quarter. Tidemark LLC’s holdings in Pfizer were worth $83,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of Pfizer by 80.9% during the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock worth $14,709,000 after acquiring an additional 227,349 shares in the last quarter. Addison Advisors LLC boosted 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 worth $1,512,000 after purchasing an additional 41,668 shares in the last quarter. Swiss National Bank grew its holdings 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 purchasing an additional 100,900 shares during the last quarter. KBC Group NV grew its holdings in 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 purchasing an additional 639,985 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Pfizer by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after buying an additional 544,418 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFE has been the topic of a number of research reports. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Wolfe Research initiated coverage on Pfizer in a research report on Friday. They set an “underperform” rating and a $25.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Pfizer Price Performance

PFE opened at $24.84 on Monday. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company’s 50 day simple moving average is $28.64 and its 200 day simple moving average is $28.67. The stock has a market capitalization of $140.77 billion, a PE ratio of 33.51, a P/E/G ratio of 0.79 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business earned ($0.17) EPS. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, sell-side analysts expect that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.76%. Pfizer’s dividend 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.