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

CIBC Asset Management Inc lifted its stake in Pfizer Inc. (NYSE:PFE) by 6.2% in the third quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Olistico Wealth LLC bought a new stake in shares of Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC acquired a new stake in Pfizer in the second quarter worth about $29,000. Quarry LP bought a new stake in Pfizer during the 2nd quarter worth about $31,000. Financial Connections Group Inc. acquired a new position in Pfizer during the 2nd quarter valued at about $34,000. Finally, ESL Trust Services LLC bought a new position in shares of Pfizer in the 1st quarter valued at about $37,000. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on PFE shares. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Wolfe Research started coverage on Pfizer in a research note on Friday. They issued an “underperform” rating and a $25.00 target price on the stock. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company increased their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.92.

Insiders Place Their Bets

In related news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

Shares of Pfizer stock opened at $24.80 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market cap of $140.54 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. The stock’s 50-day moving average is $28.71 and its 200-day moving average is $28.65. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the firm posted ($0.17) EPS. The business’s revenue was up 31.2% on a year-over-year basis. Equities analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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

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.