Private Management Group Inc. Sells 401 Shares of Pfizer Inc. (NYSE:PFE)

Private Management Group Inc. lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.5% during the third quarter, Holdings Channel.com reports. The fund owned 76,906 shares of the biopharmaceutical company’s stock after selling 401 shares during the period. Private Management Group Inc.’s holdings in Pfizer were worth $2,226,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at $29,000. Quarry LP acquired a new stake in shares of Pfizer during the 2nd quarter valued at $31,000. Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the 2nd quarter valued at $34,000. Finally, ESL Trust Services LLC acquired a new stake in shares of Pfizer during the 1st quarter valued at $37,000. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday. Eight analysts have rated the stock with 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction that occurred 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 completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Pfizer Price Performance

PFE stock opened at $28.09 on Friday. The company has a market capitalization of $159.18 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 0.90 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 Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The business has a 50-day simple moving average of $29.03 and a two-hundred day simple moving average of $28.59.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) EPS. Research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.98%. Pfizer’s payout ratio is presently 227.03%.

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.