Pfizer Inc. (NYSE:PFE) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 8.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 167,776 shares of the biopharmaceutical company’s stock after selling 14,995 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Pfizer were worth $4,855,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Marshall Wace LLP raised its holdings in shares of Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares during the last quarter. Swedbank AB bought a new stake in Pfizer during the 1st quarter valued at $172,902,000. International Assets Investment Management LLC bought a new stake in Pfizer during the 3rd quarter valued at $146,481,000. 1832 Asset Management L.P. boosted its position in Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock worth $69,891,000 after acquiring an additional 2,487,919 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Pfizer by 120.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,498,313 shares of the biopharmaceutical company’s stock worth $130,181,000 after purchasing an additional 2,459,666 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 4.7 %

Shares of Pfizer stock opened at $24.80 on Friday. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The firm has a market capitalization of $140.54 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. 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 stock’s fifty day moving average is $28.64 and its 200-day moving average is $28.64.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the previous year, the company earned ($0.17) EPS. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed 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 6.77%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is 227.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Citigroup started 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. Wells Fargo & Company raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Insider Activity

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the firm’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 transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

About Pfizer

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.