New England Asset Management Inc. Increases Position in Pfizer Inc. (NYSE:PFE)

New England Asset Management Inc. increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,813 shares of the biopharmaceutical company’s stock after purchasing an additional 515 shares during the quarter. New England Asset Management Inc.’s holdings in Pfizer were worth $5,088,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in shares of Pfizer by 0.6% in the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after buying an additional 100,900 shares in the last quarter. Empowered Funds LLC boosted its stake in Pfizer by 80.9% in the third quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock valued at $14,709,000 after acquiring an additional 227,349 shares in the last quarter. Addison Advisors LLC grew its holdings in Pfizer by 394.2% in the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock worth $1,512,000 after purchasing an additional 41,668 shares during the last quarter. KBC Group NV increased its position in shares of Pfizer by 26.0% during the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock worth $89,872,000 after purchasing an additional 639,985 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Pfizer by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after purchasing an additional 544,418 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Insider Activity

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Pfizer Price Performance

NYSE:PFE opened at $24.88 on Tuesday. The firm’s fifty day moving average is $28.55 and its two-hundred day moving average is $28.65. The firm has a market cap of $140.97 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 0.79 and a beta of 0.67. 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 one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last issued its 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 firm 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 company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Research analysts expect that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.75%. Pfizer’s payout ratio is 227.03%.

Analyst Ratings Changes

Several research analysts recently weighed in on PFE shares. Citigroup initiated coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $32.92.

About Pfizer

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.