Pfizer Inc. (NYSE:PFE) Shares Sold by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 2.0% in the third quarter, HoldingsChannel.com reports. The firm owned 20,994 shares of the biopharmaceutical company’s stock after selling 430 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Pfizer were worth $608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after buying an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares during the last quarter. Geode Capital Management LLC increased its position in Pfizer by 1.6% during the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after purchasing an additional 1,855,419 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after acquiring an additional 6,977,587 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 0.7 %

NYSE PFE traded down $0.19 on Thursday, hitting $25.70. 26,496,166 shares of the stock traded hands, compared to its average volume of 38,618,578. The company has a market capitalization of $145.64 billion, a P/E ratio of 34.73, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The stock has a 50-day moving average of $26.95 and a 200 day moving average of $28.22. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results 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. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) EPS. As a group, analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.69%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is presently 232.43%.

Analysts Set New Price Targets

Several research analysts recently commented on PFE shares. Bank of America restated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Guggenheim cut their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $32.14.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by insiders.

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.