Pfizer Inc. (NYSE:PFE) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 1.8% in the third quarter, Holdings Channel reports. The fund owned 3,101,202 shares of the biopharmaceutical company’s stock after selling 56,348 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Pfizer were worth $89,749,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cladis Investment Advisory LLC increased its position in Pfizer by 2.2% during the third quarter. Cladis Investment Advisory LLC now owns 58,138 shares of the biopharmaceutical company’s stock worth $1,683,000 after purchasing an additional 1,228 shares during the last quarter. Ascent Group LLC increased its holdings in shares of Pfizer by 23.3% during the 3rd quarter. Ascent Group LLC now owns 62,712 shares of the biopharmaceutical company’s stock worth $1,815,000 after buying an additional 11,867 shares during the last quarter. Benjamin Edwards Inc. raised its position in shares of Pfizer by 1,399.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 240,258 shares of the biopharmaceutical company’s stock valued at $6,953,000 after buying an additional 224,240 shares during the period. Kestra Investment Management LLC acquired a new position in Pfizer in the third quarter valued at approximately $1,839,000. Finally, Paradigm Capital Management LLC NV purchased a new position in Pfizer in the third quarter worth approximately $2,681,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PFE. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Wolfe Research initiated coverage on Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 price target on the stock. One 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.92.

Pfizer Trading Up 0.2 %

Shares of NYSE:PFE opened at $26.25 on Monday. The company has a market cap of $148.76 billion, a PE ratio of 35.42, a P/E/G ratio of 0.71 and a beta of 0.67. The company’s 50 day moving average is $27.83 and its two-hundred day moving average is $28.49. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted 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 return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period last year, the firm earned ($0.17) earnings per share. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. Equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 annualized dividend and a yield of 6.40%. Pfizer’s dividend payout ratio is currently 227.03%.

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.