Wealth Effects LLC Decreases Holdings in Pfizer Inc. (NYSE:PFE)

Wealth Effects LLC lowered its position in Pfizer Inc. (NYSE:PFE) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,122 shares of the biopharmaceutical company’s stock after selling 2,952 shares during the quarter. Wealth Effects LLC’s holdings in Pfizer were worth $1,914,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Marino Stram & Associates LLC grew its holdings in Pfizer by 3.6% during the 3rd quarter. Marino Stram & Associates LLC now owns 50,255 shares of the biopharmaceutical company’s stock valued at $1,454,000 after buying an additional 1,741 shares in the last quarter. Bellecapital International Ltd. grew its holdings in Pfizer by 10.4% during the 3rd quarter. Bellecapital International Ltd. now owns 196,203 shares of the biopharmaceutical company’s stock valued at $5,678,000 after buying an additional 18,404 shares in the last quarter. Wealth Advisory Solutions LLC grew its holdings in Pfizer by 23.5% during the 3rd quarter. Wealth Advisory Solutions LLC now owns 26,858 shares of the biopharmaceutical company’s stock valued at $777,000 after buying an additional 5,117 shares in the last quarter. Koss Olinger Consulting LLC grew its holdings in Pfizer by 2.1% during the 3rd quarter. Koss Olinger Consulting LLC now owns 78,381 shares of the biopharmaceutical company’s stock valued at $2,268,000 after buying an additional 1,599 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its holdings in Pfizer by 11.8% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 24,430 shares of the biopharmaceutical company’s stock valued at $707,000 after buying an additional 2,579 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

PFE stock traded down $0.29 during trading on Monday, reaching $28.93. The stock had a trading volume of 9,785,816 shares, compared to its average volume of 36,969,188. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The stock’s 50 day moving average is $29.07 and its two-hundred day moving average is $28.45. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a market cap of $163.93 billion, a PE ratio of -483.67, a PEG ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the business posted $0.67 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is presently -2,800.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PFE shares. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday. They set a “market perform” rating and a $32.00 price target for the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.91.

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.