Commerce Bank Has $60.56 Million Stake in Pfizer Inc. (NYSE:PFE)

Commerce Bank trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 4.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,092,752 shares of the biopharmaceutical company’s stock after selling 91,538 shares during the quarter. Commerce Bank’s holdings in Pfizer were worth $60,564,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FAS Wealth Partners Inc. boosted its stake in Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after acquiring an additional 342 shares during the last quarter. Sachetta LLC raised its stake in shares of Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 342 shares during the period. Wells Trecaso Financial Group LLC lifted its holdings in Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 350 shares in the last quarter. Ironvine Capital Partners LLC boosted its position in shares of Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 353 shares during the period. Finally, Secure Asset Management LLC boosted its holdings in Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after purchasing an additional 353 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents 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 this hyperlink. 0.06% of the stock is currently owned by insiders.

Pfizer Trading Up 1.0 %

Shares of PFE opened at $25.10 on Wednesday. The firm has a fifty day simple moving average of $28.45 and a two-hundred day simple moving average of $28.63. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The stock has a market capitalization of $142.24 billion, a P/E ratio of 33.92, a PEG ratio of 0.79 and a beta of 0.67. 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 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 net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the business posted ($0.17) earnings per share. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, research analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.69%. Pfizer’s dividend payout ratio is presently 227.03%.

Wall Street Analyst Weigh In

PFE has been the topic of a number of recent analyst reports. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.92.

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.