Pinnacle West Asset Management Inc. Boosts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Pinnacle West Asset Management Inc. grew its position in shares of Pfizer Inc. (NYSE:PFE) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,675 shares of the biopharmaceutical company’s stock after purchasing an additional 775 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Pfizer were worth $425,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. LGT Group Foundation grew its stake in Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after acquiring an additional 18,274 shares during the period. Creative Planning grew its stake in Pfizer by 17.1% in the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock valued at $52,692,000 after acquiring an additional 266,167 shares during the period. ORG Partners LLC boosted its stake in Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Pfizer by 10.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock worth $7,422,000 after purchasing an additional 23,928 shares during the last quarter. Finally, Everett Harris & Co. CA boosted its stake in Pfizer by 21.7% during the 3rd quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock worth $6,319,000 after purchasing an additional 38,870 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on PFE shares. UBS Group lifted their target price 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. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Stock Down 0.7 %

NYSE PFE traded down $0.19 during trading on Thursday, reaching $28.67. 8,539,837 shares of the company’s stock were exchanged, compared to its average volume of 36,790,391. The stock has a market cap of $162.46 billion, a P/E ratio of -481.67, a price-to-earnings-growth ratio of 1.02 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. The company has a 50 day moving average price of $29.07 and a two-hundred day moving average price of $28.48. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54.

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

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is -2,800.00%.

Pfizer Company 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.