OVERSEA CHINESE BANKING Corp Ltd Raises Position in Pfizer Inc. (NYSE:PFE)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 52.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,723 shares of the biopharmaceutical company’s stock after buying an additional 10,938 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Pfizer were worth $919,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFE. Addison Advisors LLC raised its stake in shares of Pfizer by 394.2% during the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after purchasing an additional 41,668 shares during the period. LGT Group Foundation grew its holdings in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after purchasing an additional 18,274 shares in the last quarter. Radnor Capital Management LLC purchased a new stake in Pfizer during the 3rd quarter worth $2,972,000. Kornitzer Capital Management Inc. KS lifted its holdings in Pfizer by 2.4% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 1,168,315 shares of the biopharmaceutical company’s stock worth $33,811,000 after buying an additional 27,562 shares in the last quarter. Finally, Costello Asset Management INC boosted its position in Pfizer by 461.9% in the 3rd quarter. Costello Asset Management INC now owns 56,925 shares of the biopharmaceutical company’s stock valued at $1,647,000 after buying an additional 46,795 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup initiated coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Trading Up 2.0 %

Pfizer stock opened at $26.72 on Thursday. 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 Inc. has a 1 year low of $25.20 and a 1 year high of $31.54. The firm’s 50-day moving average is $28.80 and its 200-day moving average is $28.68. The company has a market cap of $151.42 billion, a P/E ratio of 36.11, a PEG ratio of 0.83 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The company 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%. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) earnings per share. On average, equities analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

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.