Pfizer Inc. (NYSE:PFE) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lowered its position in Pfizer Inc. (NYSE:PFE) by 71.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,481 shares of the biopharmaceutical company’s stock after selling 45,773 shares during the quarter. iA Global Asset Management Inc.’s holdings in Pfizer were worth $535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC purchased a new position in Pfizer in the second quarter valued at about $29,000. Gladius Capital Management LP boosted its stake in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares during the last quarter. Quarry LP bought a new stake in shares of Pfizer in the second quarter worth $31,000. Financial Connections Group Inc. acquired a new stake in Pfizer in the second quarter valued at $34,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in Pfizer during the 3rd quarter valued at $35,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 1.5 %

PFE opened at $26.12 on Tuesday. The stock’s 50 day moving average price is $27.42 and its 200 day moving average price is $28.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock has a market cap of $148.02 billion, a P/E ratio of 35.30, a P/E/G ratio of 0.70 and a beta of 0.65. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.28% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. As a group, research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend was Friday, November 8th. Pfizer’s dividend payout ratio is currently 227.03%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup assumed coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective on the stock. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. Finally, Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Activity

In other news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.