Gateway Investment Advisers LLC Sells 69,368 Shares of Pfizer Inc. (NYSE:PFE)

Gateway Investment Advisers LLC trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,200,768 shares of the biopharmaceutical company’s stock after selling 69,368 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Pfizer were worth $34,750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Silverlake Wealth Management LLC boosted its holdings in shares of Pfizer by 20.1% in the 3rd quarter. Silverlake Wealth Management LLC now owns 70,723 shares of the biopharmaceutical company’s stock valued at $2,047,000 after purchasing an additional 11,833 shares in the last quarter. Next Level Private LLC grew its position in Pfizer by 7.8% in the third quarter. Next Level Private LLC now owns 58,178 shares of the biopharmaceutical company’s stock valued at $1,684,000 after acquiring an additional 4,234 shares during the last quarter. Valeo Financial Advisors LLC grew its position in Pfizer by 0.3% in the third quarter. Valeo Financial Advisors LLC now owns 217,790 shares of the biopharmaceutical company’s stock valued at $6,303,000 after acquiring an additional 581 shares during the last quarter. Wynn Capital LLC lifted its holdings in shares of Pfizer by 9.5% in the third quarter. Wynn Capital LLC now owns 23,014 shares of the biopharmaceutical company’s stock worth $666,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Pfizer by 40.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 310,773 shares of the biopharmaceutical company’s stock valued at $8,991,000 after purchasing an additional 89,522 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.6 %

Pfizer stock traded down $0.18 during trading hours on Friday, reaching $29.16. 29,617,610 shares of the company’s stock were exchanged, compared to its average volume of 37,393,754. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $33.92. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm’s 50 day simple moving average is $29.04 and its 200 day simple moving average is $28.38. The firm has a market capitalization of $165.24 billion, a PE ratio of -485.83, a PEG ratio of 1.30 and a beta of 0.67.

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

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.76%. Pfizer’s payout ratio is currently -2,800.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Company 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.