Massachusetts Financial Services Co. MA Trims Stake in Pfizer Inc. (NYSE:PFE)

Massachusetts Financial Services Co. MA trimmed its stake in Pfizer Inc. (NYSE:PFE) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,151,857 shares of the biopharmaceutical company’s stock after selling 642,199 shares during the period. Massachusetts Financial Services Co. MA owned 1.26% of Pfizer worth $2,059,135,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. FAS Wealth Partners Inc. raised its stake in Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares during the period. Sachetta LLC boosted its holdings in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 342 shares during the period. Wells Trecaso Financial Group LLC increased its stake in Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 350 shares in the last quarter. Ironvine Capital Partners LLC raised its holdings in Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 353 shares during the period. Finally, Secure Asset Management LLC boosted its stake in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after acquiring an additional 353 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the topic of several recent analyst reports. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on shares of Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. UBS Group boosted their price target 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. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Price Performance

PFE stock opened at $24.95 on Thursday. The stock has a market cap of $141.36 billion, a PE ratio of 33.71, a P/E/G ratio of 0.80 and a beta of 0.67. The company has a 50-day moving average price of $28.36 and a 200 day moving average price of $28.61. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. 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 (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating 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 company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the company posted ($0.17) EPS. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. Equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current 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 issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.73%. Pfizer’s payout ratio is 227.03%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction 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 transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate 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.