Pitcairn Co. Has $760,000 Stock Position in Pfizer Inc. (NYSE:PFE)

Pitcairn Co. lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,269 shares of the biopharmaceutical company’s stock after selling 4,008 shares during the quarter. Pitcairn Co.’s holdings in Pfizer were worth $760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PFE. KKM Financial LLC boosted its stake in Pfizer by 5.4% during the third quarter. KKM Financial LLC now owns 73,671 shares of the biopharmaceutical company’s stock worth $2,132,000 after buying an additional 3,767 shares in the last quarter. Palisade Asset Management LLC boosted its position in shares of Pfizer by 2.6% during the 3rd quarter. Palisade Asset Management LLC now owns 50,235 shares of the biopharmaceutical company’s stock valued at $1,454,000 after acquiring an additional 1,295 shares in the last quarter. Canopy Partners LLC increased its stake in Pfizer by 4.9% in the third quarter. Canopy Partners LLC now owns 34,588 shares of the biopharmaceutical company’s stock valued at $1,001,000 after acquiring an additional 1,618 shares during the period. Cerity Partners LLC raised its position in Pfizer by 26.2% in the third quarter. Cerity Partners LLC now owns 1,984,016 shares of the biopharmaceutical company’s stock worth $57,417,000 after purchasing an additional 412,364 shares in the last quarter. Finally, Waddell & Associates LLC boosted its holdings in Pfizer by 1.6% during the third quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock valued at $723,000 after purchasing an additional 388 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Up 2.1 %

Shares of PFE opened at $25.65 on Monday. The stock’s fifty day simple moving average is $28.21 and its 200-day simple moving average is $28.57. The firm has a market capitalization of $145.36 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 0.82 and a beta of 0.67. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. 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 (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The company 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 company’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. As a group, research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Wall Street Analyst Weigh In

PFE has been the subject of a number of recent research reports. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. 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 target price on the stock. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company raised their price objective 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Insider Activity

In related news, Director Scott Gottlieb bought 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 of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.