Mainstream Capital Management LLC Buys New Shares in Pfizer Inc. (NYSE:PFE)

Mainstream Capital Management LLC bought a new stake in Pfizer Inc. (NYSE:PFE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,015 shares of the biopharmaceutical company’s stock, valued at approximately $1,042,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp lifted its stake in Pfizer by 2.8% in the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after acquiring an additional 456,168 shares during the last quarter. Federated Hermes Inc. lifted its stake in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the last quarter. National Pension Service lifted its stake in Pfizer by 18.1% in the third quarter. National Pension Service now owns 11,516,769 shares of the biopharmaceutical company’s stock valued at $333,295,000 after acquiring an additional 1,762,520 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Pfizer by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after acquiring an additional 238,850 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PFE shares. Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Eight equities research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Price Performance

Shares of Pfizer stock opened at $27.46 on Friday. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of $28.96 and a two-hundred day simple moving average of $28.64. The stock has a market capitalization of $155.62 billion, a price-to-earnings ratio of 37.11, a price-to-earnings-growth ratio of 0.88 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS 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 16.40%. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period last year, the firm earned ($0.17) EPS. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.12%. The ex-dividend date is Friday, November 8th. 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 firm’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

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.