Pfizer Inc. (NYSE:PFE) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC reduced its position in Pfizer Inc. (NYSE:PFE) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 279,900 shares of the biopharmaceutical company’s stock after selling 7,410 shares during the period. Pfizer comprises 2.3% of Hourglass Capital LLC’s holdings, making the stock its 9th largest position. Hourglass Capital LLC’s holdings in Pfizer were worth $8,100,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Van ECK Associates Corp increased its holdings in shares of Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after purchasing an additional 456,168 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of Pfizer by 4.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock worth $479,073,000 after purchasing an additional 658,420 shares during the period. Federated Hermes Inc. increased its holdings in shares of Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Pfizer by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock worth $379,657,000 after purchasing an additional 544,418 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group raised their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Price Performance

Shares of NYSE:PFE opened at $26.72 on Thursday. The firm has a market cap of $151.42 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67. The firm’s fifty day moving average is $28.80 and its 200-day moving average is $28.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Sell-side analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.29%. Pfizer’s payout ratio is 227.03%.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 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 acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is owned by company 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.