Pfizer Inc. (NYSE:PFE) Shares Sold by Associated Banc Corp

Associated Banc Corp lessened its position in Pfizer Inc. (NYSE:PFE) by 11.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 251,913 shares of the biopharmaceutical company’s stock after selling 33,895 shares during the quarter. Associated Banc Corp’s holdings in Pfizer were worth $7,290,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA boosted its stake in shares of Pfizer by 1.8% in the third quarter. Private Trust Co. NA now owns 76,205 shares of the biopharmaceutical company’s stock valued at $2,205,000 after purchasing an additional 1,324 shares during the period. Horizon Kinetics Asset Management LLC lifted its holdings in Pfizer by 63.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 93,815 shares of the biopharmaceutical company’s stock worth $2,715,000 after buying an additional 36,370 shares in the last quarter. Truvestments Capital LLC boosted its position in Pfizer by 15.3% in the 3rd quarter. Truvestments Capital LLC now owns 14,939 shares of the biopharmaceutical company’s stock valued at $432,000 after buying an additional 1,985 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Pfizer by 3.0% in the third quarter. Brown Brothers Harriman & Co. now owns 210,927 shares of the biopharmaceutical company’s stock worth $6,104,000 after acquiring an additional 6,232 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Pfizer by 7.3% during the third quarter. Loomis Sayles & Co. L P now owns 8,450 shares of the biopharmaceutical company’s stock worth $245,000 after acquiring an additional 577 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of PFE traded up $0.35 during midday trading on Monday, reaching $26.00. 8,491,510 shares of the stock were exchanged, compared to its average volume of 38,350,621. The company has a market capitalization of $147.34 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 0.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The business’s 50-day moving average price is $28.21 and its 200 day moving average price is $28.57.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate 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 return on equity of 16.28% and a net margin of 7.07%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) earnings per share. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.46%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is currently 227.03%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Barclays raised their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price 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 approximately $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.