Parnassus Investments LLC Has $127.07 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

Parnassus Investments LLC increased its position in Pfizer Inc. (NYSE:PFE) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,390,705 shares of the biopharmaceutical company’s stock after purchasing an additional 156,894 shares during the quarter. Parnassus Investments LLC owned approximately 0.08% of Pfizer worth $127,067,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PFE. Marshall Wace LLP lifted its holdings in shares of Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares in the last quarter. Swedbank AB acquired a new position in Pfizer during the first quarter worth $172,902,000. International Assets Investment Management LLC bought a new position in Pfizer in the third quarter valued at $146,481,000. 1832 Asset Management L.P. increased 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 valued at $69,891,000 after buying an additional 2,487,919 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Pfizer by 120.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,498,313 shares of the biopharmaceutical company’s stock worth $130,181,000 after buying an additional 2,459,666 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the topic of several analyst reports. Wolfe Research assumed coverage on Pfizer in a report on Friday. They set an “underperform” rating and a $25.00 target price on the stock. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $24.88 on Tuesday. The firm has a market cap of $140.97 billion, a PE ratio of 33.62, a PEG ratio of 0.79 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average price is $28.55 and its two-hundred day moving average price is $28.65. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the prior year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 31.2% on a year-over-year basis. Equities research analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current 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 given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently 227.03%.

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.