Sumitomo Mitsui DS Asset Management Company Ltd Purchases 39,522 Shares of Pfizer Inc. (NYSE:PFE)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Pfizer Inc. (NYSE:PFE) by 5.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 703,822 shares of the biopharmaceutical company’s stock after acquiring an additional 39,522 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pfizer were worth $20,369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Olistico Wealth LLC bought a new stake in Pfizer during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the 2nd quarter valued at $29,000. Quarry LP purchased a new stake in Pfizer during the 2nd quarter worth about $31,000. Trivant Custom Portfolio Group LLC lifted its holdings in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new stake in Pfizer during the 2nd quarter worth approximately $34,000. Institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

PFE has been the subject of several research analyst reports. UBS Group lifted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday. They set a “market perform” rating and a $32.00 price objective on the stock. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.91.

Pfizer Price Performance

Shares of PFE stock opened at $29.28 on Friday. The business’s 50 day moving average price is $29.05 and its 200-day moving average price is $28.42. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $32.68. The firm has a market cap of $165.89 billion, a P/E ratio of -487.92, a P/E/G ratio of 1.30 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. On average, equities research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.74%. Pfizer’s payout ratio is -2,800.00%.

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.