Pfizer Inc. (NYSE:PFE) Shares Sold by Asset Dedication LLC

Asset Dedication LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 22.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,937 shares of the biopharmaceutical company’s stock after selling 3,758 shares during the quarter. Asset Dedication LLC’s holdings in Pfizer were worth $374,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PFE. Los Angeles Capital Management LLC raised its holdings in shares of Pfizer by 59.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 47,663 shares of the biopharmaceutical company’s stock worth $1,323,000 after acquiring an additional 17,799 shares during the period. GAMMA Investing LLC raised its holdings in shares of Pfizer by 9.1% during the 1st quarter. GAMMA Investing LLC now owns 13,768 shares of the biopharmaceutical company’s stock worth $382,000 after acquiring an additional 1,149 shares during the period. Signal Advisors Wealth LLC purchased a new position in shares of Pfizer during the 1st quarter worth $232,000. Bruce G. Allen Investments LLC raised its holdings in Pfizer by 13.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 6,942 shares of the biopharmaceutical company’s stock valued at $193,000 after buying an additional 811 shares during the period. Finally, Banque Cantonale Vaudoise raised its holdings in Pfizer by 95.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 469,711 shares of the biopharmaceutical company’s stock valued at $13,036,000 after buying an additional 229,471 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of Pfizer stock opened at $29.66 on Thursday. Pfizer Inc. has a one year low of $25.20 and a one year high of $33.19. The company has a market cap of $168.07 billion, a PE ratio of -494.33, a P/E/G ratio of 1.30 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The business has a 50-day simple moving average of $29.04 and a 200-day simple moving average of $28.42.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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 the consensus estimate of $12.96 billion. During the same period in the previous year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is presently -2,800.00%.

Analyst Ratings Changes

Several brokerages recently issued reports on PFE. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays boosted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average target price of $34.10.

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.