Cinctive Capital Management LP Sells 374,035 Shares of Pfizer Inc. (NYSE:PFE)

Cinctive Capital Management LP reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 68.8% during the third quarter, HoldingsChannel.com reports. The fund owned 169,242 shares of the biopharmaceutical company’s stock after selling 374,035 shares during the quarter. Cinctive Capital Management LP’s holdings in Pfizer were worth $4,898,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE opened at $25.82 on Tuesday. The stock has a market cap of $146.32 billion, a P/E ratio of 34.89, a PEG ratio of 0.71 and a beta of 0.65. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $27.83 and its two-hundred day moving average price is $28.49. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54.

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

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a $0.42 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.51%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PFE. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets raised 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. Citigroup assumed coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

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.