Connor Clark & Lunn Investment Management Ltd. Has $428,000 Stock Holdings in Pfizer Inc. (NYSE:PFE)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 67.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,801 shares of the biopharmaceutical company’s stock after purchasing 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.

A number of other hedge funds also recently modified their holdings of PFE. Massachusetts Financial Services Co. MA increased its holdings 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 valued at $2,008,798,000 after buying an additional 2,241,609 shares during the period. Swiss National Bank increased its stake in Pfizer by 0.6% in the third 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 raised its position in Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after purchasing an additional 456,168 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Pfizer by 4.1% during 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 purchasing an additional 658,420 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after purchasing an additional 470,003 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 1.5 %

Pfizer stock opened at $26.21 on Friday. The firm has a market cap of $148.53 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 0.70 and a beta of 0.67. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm has a 50 day moving average price of $27.83 and a two-hundred day moving average price of $28.49.

Pfizer (NYSE:PFE) last announced 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. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) earnings per share. Equities analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Insiders Place Their Bets

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

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.