Connable Office Inc. Sells 14,465 Shares of Pfizer Inc. (NYSE:PFE)

Connable Office Inc. lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 32.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,097 shares of the biopharmaceutical company’s stock after selling 14,465 shares during the quarter. Connable Office Inc.’s holdings in Pfizer were worth $871,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp raised its holdings in Pfizer by 2.8% during the 3rd quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after buying an additional 456,168 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Pfizer by 4.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock worth $479,073,000 after buying an additional 658,420 shares during the last quarter. Federated Hermes Inc. boosted its stake in Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after buying an additional 470,003 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Pfizer by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after acquiring an additional 544,418 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PFE shares. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. UBS Group raised their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wolfe Research began coverage on Pfizer in a research note on Friday. They set an “underperform” rating and a $25.00 target price on the stock. Citigroup assumed coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Insiders Place Their Bets

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

Pfizer Stock Performance

Shares of PFE stock opened at $26.02 on Friday. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The business’s fifty day simple moving average is $28.76 and its 200-day simple moving average is $28.67. 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 company has a market cap of $147.46 billion, a PE ratio of 35.16, a PEG ratio of 0.85 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) EPS. Analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced 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. This represents a $1.68 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 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.