Pfizer Inc. (NYSE:PFE) Shares Sold by Perkins Capital Management Inc.

by · The Markets Daily

Perkins Capital Management Inc. decreased its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 12.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,109 shares of the biopharmaceutical company’s stock after selling 5,566 shares during the quarter. Perkins Capital Management Inc.’s holdings in Pfizer were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFE. Marshall Wace LLP lifted its position in Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares during the last quarter. Swedbank AB purchased a new stake in Pfizer in the first quarter valued at approximately $172,902,000. International Assets Investment Management LLC acquired a new position in Pfizer during the third quarter worth $146,481,000. 1832 Asset Management L.P. boosted its position in shares of Pfizer by 24,961.6% during the second quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock worth $69,891,000 after buying an additional 2,487,919 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Pfizer by 120.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,498,313 shares of the biopharmaceutical company’s stock valued at $130,181,000 after buying an additional 2,459,666 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Down 2.3 %

Shares of NYSE PFE opened at $27.35 on Thursday. The stock has a market cap of $154.98 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 0.88 and a beta of 0.67. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The business has a 50-day moving average price of $28.96 and a 200 day moving average price of $28.64. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE – Get Free Report) last issued 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. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. Pfizer’s quarterly 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) EPS. Equities research analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared 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. This represents a $1.68 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Analyst Ratings Changes

A number of brokerages recently commented on PFE. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Citigroup began coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.58.

Read Our Latest Analysis on PFE

Insider Buying and Selling

In other 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 price of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Pfizer Company 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.

See Also