Northeast Investment Management Has $2.90 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

by · The Markets Daily

Northeast Investment Management lessened its position in Pfizer Inc. (NYSE:PFE – Free Report) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,099 shares of the biopharmaceutical company’s stock after selling 5,459 shares during the quarter. Northeast Investment Management’s holdings in Pfizer were worth $2,897,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 3.2% during the 2nd 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 during the last quarter. Van ECK Associates Corp increased its position in shares of Pfizer by 2.8% during the 3rd quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after purchasing an additional 456,168 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Pfizer by 3.3% during the 2nd 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 during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Pfizer by 2.4% during the 2nd 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 during the last quarter. Finally, Thornburg Investment Management Inc. increased its position in shares of Pfizer by 10.3% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE PFE opened at $28.09 on Monday. The stock has a market capitalization of $159.18 billion, a PE ratio of 37.96, 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 business has a fifty day moving average price of $29.03 and a two-hundred day moving average price of $28.62. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings data 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. 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 company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) EPS. As a group, equities analysts predict that Pfizer Inc. will post 2.95 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. Stockholders 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 5.98%. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PFE. Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Sanford C. Bernstein assumed coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Check Out Our Latest Research Report on Pfizer

About Pfizer

(Free Report)

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.

Further Reading

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