Pfizer Inc. (NYSE:PFE) Stock Position Lowered by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,473,575 shares of the biopharmaceutical company’s stock after selling 37,969 shares during the quarter. MetLife Investment Management LLC’s holdings in Pfizer were worth $42,645,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Marshall Wace LLP boosted its holdings in Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after buying an additional 8,378,173 shares in the last quarter. Swedbank AB acquired a new position in Pfizer in the first quarter worth approximately $172,902,000. International Assets Investment Management LLC bought a new position in shares of Pfizer in the third quarter valued at $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Pfizer by 164.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock valued at $211,737,000 after acquiring an additional 4,546,809 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.0 %

Shares of PFE traded up $0.01 during midday trading on Wednesday, reaching $25.78. 1,984,368 shares of the stock were exchanged, compared to its average volume of 38,384,078. The company has a market cap of $146.10 billion, a price-to-earnings ratio of 34.81, a P/E/G ratio of 0.83 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 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 firm has a 50 day simple moving average of $28.05 and a 200-day simple moving average of $28.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $14.92 billion. During the same quarter last year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. Research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced 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 6.52%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction 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 acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PFE shares. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Wolfe Research initiated coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Pfizer Company Profile

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.