Coastwise Capital Group LLC Sells 4,353 Shares of Pfizer Inc. (NYSE:PFE)

Coastwise Capital Group LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 6.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 67,563 shares of the biopharmaceutical company’s stock after selling 4,353 shares during the quarter. Pfizer comprises approximately 1.6% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 13th biggest position. Coastwise Capital Group LLC’s holdings in Pfizer were worth $1,955,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PFE. Swiss National Bank raised its position in Pfizer by 0.6% during the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after purchasing an additional 100,900 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Pfizer by 80.9% during the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock worth $14,709,000 after buying an additional 227,349 shares during the last quarter. Addison Advisors LLC boosted its stake in Pfizer by 394.2% in the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after buying an additional 41,668 shares in the last quarter. Finally, KBC Group NV grew its position in Pfizer by 26.0% in the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after acquiring an additional 639,985 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s 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 transaction, the director now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Pfizer Trading Up 1.5 %

NYSE:PFE opened at $26.21 on Monday. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The firm’s fifty day moving average is $27.83 and its 200-day moving average is $28.49. The firm has a market cap of $148.53 billion, a P/E ratio of 35.42, a P/E/G ratio of 0.71 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

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, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same period last year, the business posted ($0.17) EPS. Equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

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 paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.41%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PFE shares. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. Citigroup initiated coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.92.

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.