Connor Clark & Lunn Investment Management Ltd. Purchases 5,959 Shares of Pfizer Inc. (NYSE:PFE)

Connor Clark & Lunn Investment Management Ltd. increased its position in Pfizer Inc. (NYSE:PFE) by 67.4% during the third quarter, Holdings Channel.com reports. The firm owned 14,801 shares of the biopharmaceutical company’s stock after buying an additional 5,959 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pfizer were worth $428,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PFE. Marshall Wace LLP grew its holdings in shares of Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Pfizer during the 3rd quarter valued at about $146,481,000. 1832 Asset Management L.P. boosted its stake in Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after purchasing an additional 2,487,919 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Pfizer by 120.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,498,313 shares of the biopharmaceutical company’s stock worth $130,181,000 after purchasing an additional 2,459,666 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE opened at $26.21 on Friday. The company has a market capitalization of $148.53 billion, a P/E ratio of 35.42, a P/E/G ratio of 0.70 and a beta of 0.67. The business has a fifty day simple moving average of $27.83 and a two-hundred day simple moving average of $28.49. 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.

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. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) EPS. On average, analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.41%. Pfizer’s dividend payout ratio is 227.03%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PFE shares. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research began coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Finally, Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.