Mutual of America Capital Management LLC Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

Mutual of America Capital Management LLC lowered its stake in Pfizer Inc. (NYSE:PFE) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 696,856 shares of the biopharmaceutical company’s stock after selling 16,921 shares during the period. Mutual of America Capital Management LLC’s holdings in Pfizer were worth $20,167,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Addison Advisors LLC raised its stake in shares of Pfizer by 394.2% during 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. Empowered Funds LLC raised its stake in shares of Pfizer by 80.9% during the third quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock worth $14,709,000 after purchasing an additional 227,349 shares during the last quarter. KBC Group NV raised its stake 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake 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 last quarter. Finally, LGT Group Foundation raised its stake in shares of Pfizer by 2.5% during the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after purchasing an additional 18,274 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 4.7 %

Shares of PFE stock opened at $24.80 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock has a market cap of $140.54 billion, a P/E ratio of 33.51, a P/E/G ratio of 0.79 and a beta of 0.67. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The business has a fifty day simple moving average of $28.64 and a 200-day simple moving average of $28.66.

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

Pfizer Announces Dividend

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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is currently 227.03%.

Insider Activity at Pfizer

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PFE. Wolfe Research initiated coverage on Pfizer in a research note on Friday. They set an “underperform” rating and a $25.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. UBS Group increased their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. 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 given a strong buy rating to the stock. According to MarketBeat.com, Pfizer presently has a consensus 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.