Denver PWM LLC Cuts Stake in Pfizer Inc. (NYSE:PFE)

Denver PWM LLC lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 42.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,991 shares of the biopharmaceutical company’s stock after selling 2,239 shares during the period. Denver PWM LLC’s holdings in Pfizer were worth $87,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Pfizer by 1.2% during the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after acquiring an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 12,864,343 shares in the last quarter. Geode Capital Management LLC increased its stake in Pfizer by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after purchasing an additional 1,855,419 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Pfizer by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after buying an additional 6,977,587 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Up 0.6 %

Shares of NYSE PFE opened at $25.37 on Friday. 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 company has a 50-day moving average of $27.23 and a 200 day moving average of $28.29. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The stock has a market cap of $143.77 billion, a PE ratio of 34.28, a P/E/G ratio of 0.63 and a beta of 0.65.

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

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.78%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is currently 227.03%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased 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 of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

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.