Summit Global Investments grew its position in shares of Pfizer Inc. (NYSE:PFE – Get Rating) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,402 shares of the biopharmaceutical company’s stock after purchasing an additional 15,225 shares during the quarter. Summit Global Investments’ holdings in Pfizer were worth $10,239,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in PFE. Coatue Management LLC bought a new position in Pfizer during the 4th quarter worth approximately $608,919,000. Franklin Resources Inc. grew its position in shares of Pfizer by 28.8% during the 3rd quarter. Franklin Resources Inc. now owns 45,980,291 shares of the biopharmaceutical company’s stock worth $1,977,614,000 after buying an additional 10,270,562 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Pfizer by 470.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,012,954 shares of the biopharmaceutical company’s stock worth $430,657,000 after buying an additional 8,257,100 shares during the period. Renaissance Technologies LLC grew its position in shares of Pfizer by 215.5% during the 3rd quarter. Renaissance Technologies LLC now owns 7,457,601 shares of the biopharmaceutical company’s stock worth $320,751,000 after buying an additional 5,093,860 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Pfizer during the 4th quarter worth approximately $262,207,000. Hedge funds and other institutional investors own 66.50% of the company’s stock.
Several analysts have recently commented on PFE shares. Berenberg Bank set a $50.00 price objective on shares of Pfizer in a research report on Thursday, May 19th. Morgan Stanley began coverage on shares of Pfizer in a research report on Wednesday, April 6th. They issued an “equal weight” rating and a $55.00 price target for the company. Barclays set a $52.00 price target on shares of Pfizer in a research report on Tuesday, May 17th. SVB Leerink began coverage on shares of Pfizer in a research report on Monday. They issued a “market perform” rating and a $55.00 price target for the company. Finally, The Goldman Sachs Group set a $51.00 price target on shares of Pfizer in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $57.00.
Pfizer (NYSE:PFE – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.04). Pfizer had a return on equity of 38.29% and a net margin of 26.97%. The firm had revenue of $25.66 billion during the quarter, compared to the consensus estimate of $24.73 billion. During the same quarter last year, the company posted $0.93 EPS. Pfizer’s revenue for the quarter was up 76.8% compared to the same quarter last year. On average, equities research analysts predict that Pfizer Inc. will post 6.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 13th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.98%. Pfizer’s dividend payout ratio is currently 36.70%.
In related news, SVP Jennifer B. Damico sold 4,000 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $50.50, for a total transaction of $202,000.00. Following the sale, the senior vice president now directly owns 15,064 shares of the company’s stock, valued at $760,732. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William R. Carapezzi, Jr. sold 32,908 shares of the stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $50.00, for a total value of $1,645,400.00. Following the sale, the executive vice president now directly owns 38,146 shares in the company, valued at $1,907,300. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.
Pfizer Profile (Get Rating)
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.
- Get a free copy of the StockNews.com research report on Pfizer (PFE)
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