Advisors Asset Management Inc. Has $19.95 Million Position in Pfizer Inc. (NYSE:PFE)

Advisors Asset Management Inc. boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 689,185 shares of the biopharmaceutical company’s stock after purchasing an additional 28,704 shares during the quarter. Advisors Asset Management Inc.’s holdings in Pfizer were worth $19,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFE. Swiss National Bank boosted its stake in shares of Pfizer by 0.6% in the 3rd 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. Empowered Funds LLC grew its position 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 during the period. Addison Advisors LLC raised its holdings in shares of 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 acquiring an additional 41,668 shares during the period. KBC Group NV boosted its position in shares of Pfizer by 26.0% during the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock worth $89,872,000 after buying an additional 639,985 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Pfizer by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock worth $379,657,000 after purchasing an additional 544,418 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wolfe Research began coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. Wells Fargo & Company raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Barclays boosted their target price 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. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Price Performance

Shares of PFE opened at $25.10 on Wednesday. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The firm has a fifty day simple moving average of $28.45 and a two-hundred day simple moving average of $28.63. 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 firm has a market cap of $142.24 billion, a PE ratio of 33.92, a P/E/G ratio of 0.79 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings data 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. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. On average, equities analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.69%. Pfizer’s 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.