Belmont Capital LLC Sells 41,354 Shares of Pfizer Inc. (NYSE:PFE)

Belmont Capital LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 81.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,343 shares of the biopharmaceutical company’s stock after selling 41,354 shares during the quarter. Belmont Capital LLC’s holdings in Pfizer were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PFE. Massachusetts Financial Services Co. MA lifted its holdings in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares in the last quarter. Swiss National Bank boosted its holdings in Pfizer by 0.6% in the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after purchasing an additional 100,900 shares during the period. Van ECK Associates Corp increased its holdings in shares of Pfizer by 2.8% in the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after purchasing an additional 456,168 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Pfizer by 4.1% in 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 buying an additional 658,420 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after buying an additional 470,003 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PFE has been the topic of several research analyst reports. UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com raised Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Citigroup initiated coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Finally, Wolfe Research assumed coverage on shares of Pfizer in a research note on Friday. They issued an “underperform” rating and a $25.00 price objective for the company. One 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.92.

Pfizer Stock Performance

NYSE:PFE opened at $24.88 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The stock has a market cap of $140.97 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. The firm’s fifty day simple moving average is $28.55 and its 200 day simple moving average is $28.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. As a group, research analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date is Friday, November 8th. Pfizer’s 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.