Private Management Group Inc. Has $2.23 Million Stake in Pfizer Inc. (NYSE:PFE)

Private Management Group Inc. trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 0.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,906 shares of the biopharmaceutical company’s stock after selling 401 shares during the period. Private Management Group Inc.’s holdings in Pfizer were worth $2,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer in the 2nd quarter valued at $29,000. Quarry LP acquired a new stake in shares of Pfizer during the second quarter worth $31,000. Financial Connections Group Inc. bought a new stake in Pfizer in the second quarter valued at about $34,000. Finally, ESL Trust Services LLC bought a new stake in Pfizer in the first quarter valued at about $37,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated 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 purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE PFE opened at $28.09 on Friday. The stock has a 50 day moving average price of $29.03 and a 200 day moving average price of $28.59. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market capitalization of $159.18 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 0.90 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) earnings per share. Analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.98%. Pfizer’s dividend payout ratio is 227.03%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PFE. UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average price target 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.