Lebenthal Global Advisors LLC Raises Stock Holdings in Pfizer Inc. (NYSE:PFE)

Lebenthal Global Advisors LLC grew its stake in Pfizer Inc. (NYSE:PFE) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,136 shares of the biopharmaceutical company’s stock after buying an additional 831 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Pfizer were worth $554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in shares of Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Pfizer by 1.8% during the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after purchasing an additional 238,850 shares in the last quarter. Finally, Thornburg Investment Management Inc. grew its position in shares of Pfizer by 10.3% during the second quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after purchasing an additional 912,156 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. Barclays lifted their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Trading Up 0.5 %

Shares of Pfizer stock traded up $0.13 on Friday, reaching $28.43. The company had a trading volume of 4,729,040 shares, compared to its average volume of 37,064,988. The firm has a market cap of $161.10 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 0.90 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm’s 50-day moving average price is $29.05 and its two-hundred day moving average price is $28.56. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54.

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, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the business earned ($0.17) EPS. Pfizer’s revenue was up 31.2% compared to the same quarter last year. As a group, research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed 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. This represents a $1.68 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is currently 227.03%.

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.