Wellington Management Group LLP Decreases Stock Position in Pfizer Inc. (NYSE:PFE)

Wellington Management Group LLP decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 163,727,320 shares of the biopharmaceutical company’s stock after selling 2,592,541 shares during the period. Pfizer makes up approximately 0.8% of Wellington Management Group LLP’s investment portfolio, making the stock its 14th largest holding. Wellington Management Group LLP owned 2.89% of Pfizer worth $4,738,269,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Gladius Capital Management LP increased its stake in Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the second quarter valued at $29,000. Quarry LP acquired a new position in shares of Pfizer in the 2nd quarter valued at $31,000. Financial Connections Group Inc. acquired a new position in shares of Pfizer in the 2nd quarter valued at $34,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Pfizer in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Pfizer Stock Performance

PFE opened at $25.72 on Friday. The firm’s fifty day simple moving average is $27.54 and its two-hundred day simple moving average is $28.40. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a market cap of $145.75 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 0.69 and a beta of 0.65. 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 (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) EPS. Equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a $0.42 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.53%. Pfizer’s payout ratio is currently 227.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Sanford C. Bernstein began coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Finally, Citigroup initiated coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.92.

Pfizer 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.