Meeder Asset Management Inc. Reduces Position in Pfizer Inc. (NYSE:PFE)

Meeder Asset Management Inc. lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 68.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,581 shares of the biopharmaceutical company’s stock after selling 3,480 shares during the quarter. Meeder Asset Management Inc.’s holdings in Pfizer were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Massachusetts Financial Services Co. MA boosted its stake in Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Swiss National Bank boosted its position in shares of Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after acquiring an additional 100,900 shares during the last quarter. Van ECK Associates Corp lifted its position in Pfizer by 2.8% in the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after buying an additional 456,168 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in Pfizer by 4.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock worth $479,073,000 after buying an additional 658,420 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after buying an additional 470,003 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 Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Pfizer Stock Down 0.6 %

Shares of PFE opened at $24.95 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 one year low of $24.48 and a one year high of $31.54. The stock has a market capitalization of $141.36 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 0.79 and a beta of 0.67. The stock has a 50 day moving average price of $28.36 and a 200 day moving average price of $28.61.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) EPS. Equities research analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.73%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Analysts Set New Price Targets

PFE has been the topic of a number of recent analyst reports. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Wells Fargo & Company raised their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

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.