Pfizer Inc. (NYSE:PFE) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its holdings in Pfizer Inc. (NYSE:PFE) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,473,575 shares of the biopharmaceutical company’s stock after selling 37,969 shares during the period. MetLife Investment Management LLC’s holdings in Pfizer were worth $42,645,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new position in shares of Pfizer during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new position in Pfizer in the second quarter valued at approximately $29,000. Gladius Capital Management LP lifted its position in Pfizer by 102.8% during the third 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 in the last quarter. Quarry LP purchased a new position in shares of Pfizer in the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer in the second quarter worth about $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

PFE traded up $0.01 during trading on Wednesday, reaching $25.78. 1,984,368 shares of the company were exchanged, compared to its average volume of 38,384,078. 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. The firm has a 50 day moving average of $28.05 and a 200 day moving average of $28.54. The stock has a market cap of $146.10 billion, a P/E ratio of 34.81, a PEG ratio of 0.83 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly 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. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. On average, sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 6.52%. Pfizer’s dividend payout ratio is presently 227.03%.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of recent analyst reports. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average target price of $32.92.

Insider Buying and Selling

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.