Dakota Wealth Management Reduces Stake in Pfizer Inc. (NYSE:PFE)

Dakota Wealth Management cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 5.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 306,507 shares of the biopharmaceutical company’s stock after selling 17,606 shares during the quarter. Dakota Wealth Management’s holdings in Pfizer were worth $8,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Olistico Wealth LLC acquired a new position in Pfizer during the second quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer in the 2nd quarter valued at about $29,000. Quarry LP purchased a new stake in shares of Pfizer in the second quarter worth about $31,000. Trivant Custom Portfolio Group LLC grew its holdings in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. purchased a new position in Pfizer during the second quarter valued at approximately $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PFE. Barclays raised their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective 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. Finally, UBS Group upped their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.91.

Pfizer Stock Performance

NYSE PFE opened at $28.65 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock’s 50 day simple moving average is $29.07 and its 200-day simple moving average is $28.48. The company has a market cap of $162.35 billion, a PE ratio of -62.28, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating 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 company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 5.86%. Pfizer’s payout ratio is presently -365.21%.

Pfizer 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.