Pfizer Inc. (NYSE:PFE) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 52.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,723 shares of the biopharmaceutical company’s stock after purchasing an additional 10,938 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Pfizer were worth $919,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in Pfizer in the 1st quarter valued at approximately $315,000. Koshinski Asset Management Inc. increased its position in shares of Pfizer by 20.5% in the first quarter. Koshinski Asset Management Inc. now owns 24,265 shares of the biopharmaceutical company’s stock valued at $673,000 after buying an additional 4,130 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its stake in shares of Pfizer by 27.8% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 70,567 shares of the biopharmaceutical company’s stock worth $1,958,000 after buying an additional 15,347 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Pfizer by 99.4% in the 1st quarter. Brighton Jones LLC now owns 122,276 shares of the biopharmaceutical company’s stock worth $3,393,000 after buying an additional 60,956 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in Pfizer by 16.0% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 72,467 shares of the biopharmaceutical company’s stock valued at $2,011,000 after acquiring an additional 9,989 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Activity

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Pfizer Price Performance

Pfizer stock opened at $26.72 on Thursday. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54. 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 firm has a 50 day moving average price of $28.80 and a 200 day moving average price of $28.68. The company has a market cap of $151.42 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 0.83 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.17) EPS. Sell-side analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.29%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PFE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.58.

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.