Associated Banc Corp Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Associated Banc Corp lowered its position in Pfizer Inc. (NYSE:PFE) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,913 shares of the biopharmaceutical company’s stock after selling 33,895 shares during the period. Associated Banc Corp’s holdings in Pfizer were worth $7,290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PFE. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in Pfizer in the second quarter valued at $29,000. Gladius Capital Management LP boosted its position in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares in the last quarter. Quarry LP acquired a new position in shares of Pfizer during the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Pfizer in the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 1.4 %

Shares of NYSE:PFE traded up $0.35 during trading on Monday, reaching $26.00. The stock had a trading volume of 8,491,510 shares, compared to its average volume of 38,350,621. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock has a market cap of $147.34 billion, a P/E ratio of 34.66, a PEG ratio of 0.82 and a beta of 0.67. The business has a fifty day moving average price of $28.21 and a 200-day moving average price of $28.57. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the firm posted ($0.17) EPS. Pfizer’s revenue was up 31.2% on a year-over-year basis. As a group, analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

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 issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein started coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.92.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.