CIBC Asset Management Inc Has $30.83 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

CIBC Asset Management Inc lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,065,338 shares of the biopharmaceutical company’s stock after purchasing an additional 61,988 shares during the quarter. CIBC Asset Management Inc’s holdings in Pfizer were worth $30,831,000 as of its most recent SEC filing.

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 in the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer in the 2nd quarter valued at approximately $29,000. Quarry LP acquired a new stake in Pfizer in the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. bought a new stake in Pfizer during the second quarter worth approximately $34,000. Finally, ESL Trust Services LLC acquired a new position in Pfizer during the first quarter valued at approximately $37,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE:PFE opened at $24.80 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a 50-day moving average of $28.71 and a 200-day moving average of $28.65. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a market capitalization of $140.54 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 0.85 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS 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 during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.77%. Pfizer’s dividend payout ratio is currently 227.03%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday. They set an “underperform” rating and a $25.00 price objective for the company. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.