Pfizer Inc. (NYSE:PFE) Position Lessened by Princeton Capital Management LLC

Princeton Capital Management LLC reduced its position in Pfizer Inc. (NYSE:PFE) by 57.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,108 shares of the biopharmaceutical company’s stock after selling 9,582 shares during the quarter. Princeton Capital Management LLC’s holdings in Pfizer were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares in the last quarter. Swiss National Bank increased its stake in shares of Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after purchasing an additional 100,900 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Pfizer by 2.8% during the 3rd quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after purchasing an additional 456,168 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Pfizer by 4.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock valued at $479,073,000 after purchasing an additional 658,420 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Trading Up 0.3 %

Pfizer stock opened at $24.88 on Tuesday. 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 $140.97 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. The business has a 50 day moving average price of $28.55 and a two-hundred day moving average price of $28.65. 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 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the business earned ($0.17) earnings per share. As a group, equities analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.75%. Pfizer’s payout ratio is currently 227.03%.

Analysts Set New Price Targets

Several research firms have weighed in on PFE. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Sanford C. Bernstein started coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Wolfe Research assumed coverage on Pfizer in a research report on Friday. They set an “underperform” rating and a $25.00 target price for the company. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Buying and Selling

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company’s stock.

Pfizer 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.