International Assets Investment Management LLC Takes $146.48 Million Position in Pfizer Inc. (NYSE:PFE)

International Assets Investment Management LLC purchased a new stake in Pfizer Inc. (NYSE:PFE) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,061,530 shares of the biopharmaceutical company’s stock, valued at approximately $146,481,000. International Assets Investment Management LLC owned approximately 0.09% of Pfizer as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Marshall Wace LLP boosted its stake in 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 purchasing an additional 8,378,173 shares in the last quarter. Swedbank AB acquired a new stake in Pfizer in the 1st quarter worth approximately $172,902,000. Pzena Investment Management LLC boosted its stake in Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares in the last quarter. Van ECK Associates Corp boosted its stake in Pfizer by 21.8% in the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock worth $438,820,000 after purchasing an additional 2,829,178 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Pfizer by 24,961.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock worth $69,891,000 after purchasing an additional 2,487,919 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Down 0.6 %

PFE stock opened at $28.46 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The stock has a market cap of $161.27 billion, a price-to-earnings ratio of -61.96, a PEG ratio of 1.01 and a beta of 0.67. The business’s 50-day moving average is $29.07 and its 200 day moving average is $28.49.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the firm posted $0.67 EPS. Pfizer’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm 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 5.90%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is -365.21%.

Wall Street Analyst Weigh In

Several analysts have commented on PFE shares. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Citigroup started coverage on Pfizer in a research report on Friday. They set a “neutral” rating and a $30.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

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.