Assetmark Inc. Has $107.06 Million Holdings in Pfizer Inc. (NYSE:PFE)

by · The Markets Daily

Assetmark Inc. lifted its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,699,263 shares of the biopharmaceutical company’s stock after acquiring an additional 103,548 shares during the quarter. Assetmark Inc. owned approximately 0.07% of Pfizer worth $107,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. LGT Group Foundation increased its stake in shares of Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after buying an additional 18,274 shares during the period. Radnor Capital Management LLC bought a new stake in Pfizer during the 3rd quarter worth approximately $2,972,000. Kornitzer Capital Management Inc. KS increased its position 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 valued at $33,811,000 after acquiring an additional 27,562 shares during the period. Capital Advisors Inc. OK lifted its holdings in shares of Pfizer by 3.5% during the third quarter. Capital Advisors Inc. OK now owns 1,439,745 shares of the biopharmaceutical company’s stock worth $41,666,000 after purchasing an additional 48,314 shares during the period. Finally, Creative Planning grew its stake in shares of Pfizer by 17.1% in the third quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after purchasing an additional 266,167 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.73 on Friday. The business has a 50-day simple moving average of $28.89 and a 200 day simple moving average of $28.63. Pfizer Inc. has a one year low of $25.20 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.60. The firm has a market capitalization of $151.48 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 0.87 and a beta of 0.67.

Pfizer (NYSE:PFE – Get Free Report) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the firm earned ($0.17) earnings per share. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.29%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is presently 227.03%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PFE. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.58.

Read Our Latest Research Report on Pfizer

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

About Pfizer

(Free Report)

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.

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