QRG Capital Management Inc. Sells 60,121 Shares of Pfizer Inc. (NYSE:PFE)

QRG Capital Management Inc. lowered its position in Pfizer Inc. (NYSE:PFE) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 405,055 shares of the biopharmaceutical company’s stock after selling 60,121 shares during the period. QRG Capital Management Inc.’s holdings in Pfizer were worth $11,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the business. Olistico Wealth LLC purchased a new position in Pfizer during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer in the 2nd quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Pfizer in the 2nd quarter valued at about $31,000. Financial Connections Group Inc. purchased a new stake in Pfizer during the second quarter worth $34,000. Finally, ESL Trust Services LLC purchased a new position in shares of Pfizer in the 1st quarter valued at about $37,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE PFE opened at $27.76 on Tuesday. The company’s 50 day simple moving average is $29.01 and its 200 day simple moving average is $28.63. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The firm has a market capitalization of $157.31 billion, a PE ratio of 37.51, a P/E/G ratio of 0.89 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share 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 analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. As a group, equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business 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 dividend yield of 6.05%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 0.00 % 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 corporate insiders.

Wall Street Analyst Weigh In

PFE has been the subject of a number of research analyst reports. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and upped 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. Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

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.