Zurcher Kantonalbank Zurich Cantonalbank Has $70.24 Million Position in Pfizer Inc. (NYSE:PFE)

by · The Markets Daily

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Pfizer Inc. (NYSE:PFE – Free Report) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,427,095 shares of the biopharmaceutical company’s stock after acquiring an additional 98,873 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pfizer were worth $70,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Olistico Wealth LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new stake in Pfizer in the second quarter valued at approximately $29,000. Gladius Capital Management LP grew its position in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares in the last quarter. Quarry LP acquired a new position in shares of Pfizer during the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Pfizer during the 2nd quarter valued at $34,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PFE shares. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Citigroup assumed coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Read Our Latest Stock Analysis on PFE

Pfizer Price Performance

Shares of PFE stock opened at $25.83 on Thursday. The company has a market capitalization of $146.38 billion, a P/E ratio of 34.91, a P/E/G ratio of 0.83 and a beta of 0.67. 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 12 month low of $24.48 and a 12 month high of $31.54. The stock has a 50 day moving average of $27.97 and a two-hundred day moving average of $28.52.

Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the previous year, the company earned ($0.17) earnings per share. The business’s revenue was up 31.2% compared to the same quarter last year. As a group, equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Pfizer Profile

(Free Report)

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.

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