First Dallas Securities Inc. Trims Holdings in Pfizer Inc. (NYSE:PFE)

First Dallas Securities Inc. cut its holdings in Pfizer Inc. (NYSE:PFE) by 10.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,600 shares of the biopharmaceutical company’s stock after selling 2,700 shares during the quarter. First Dallas Securities Inc.’s holdings in Pfizer were worth $654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. grew its position in shares of Pfizer by 11.0% in 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 during the period. Marshall Wace LLP grew its position in shares of Pfizer by 279.3% in the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after buying an additional 8,378,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after buying an additional 6,977,587 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Pfizer in the 3rd quarter worth about $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Pfizer by 164.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock valued at $211,737,000 after purchasing an additional 4,546,809 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was bought 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 of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PFE. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Trading Up 1.5 %

Shares of PFE opened at $26.12 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a 50 day simple moving average of $27.42 and a two-hundred day simple moving average of $28.36. The firm has a market cap of $148.02 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65.

Pfizer (NYSE:PFE) last announced 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 net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period last year, the firm posted ($0.17) EPS. The company’s revenue was up 31.2% on a year-over-year basis. On average, equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend was Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 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.