Cinctive Capital Management LP Sells 374,035 Shares of Pfizer Inc. (NYSE:PFE)

Cinctive Capital Management LP decreased its holdings in Pfizer Inc. (NYSE:PFE) by 68.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 169,242 shares of the biopharmaceutical company’s stock after selling 374,035 shares during the period. Cinctive Capital Management LP’s holdings in Pfizer were worth $4,898,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Olistico Wealth LLC bought a new stake in shares of Pfizer during the second quarter worth $25,000. Gladius Capital Management LP grew its position in Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in Pfizer in the 2nd quarter worth about $29,000. Quarry LP bought a new position in Pfizer in the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the second quarter valued at about $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. One equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $32.92.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Pfizer Price Performance

Shares of NYSE PFE opened at $25.82 on Tuesday. The firm has a market capitalization of $146.32 billion, a P/E ratio of 34.89, a P/E/G ratio of 0.71 and a beta of 0.65. The firm’s 50-day moving average price is $27.83 and its 200-day moving average price is $28.49. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last posted 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the prior year, the business earned ($0.17) EPS. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.51%. Pfizer’s dividend payout ratio is presently 227.03%.

Pfizer Company 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.