Valmark Advisers Inc. Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

Valmark Advisers Inc. cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,761 shares of the biopharmaceutical company’s stock after selling 2,925 shares during the period. Valmark Advisers Inc.’s holdings in Pfizer were worth $1,180,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer in the 2nd quarter valued at about $29,000. Quarry LP acquired a new stake in Pfizer during the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. purchased a new position in shares of Pfizer in the 2nd quarter valued at approximately $34,000. Finally, ESL Trust Services LLC acquired a new position in shares of Pfizer in the first quarter valued at approximately $37,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Barclays lifted their target price 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. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. UBS Group lifted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Trading Down 1.4 %

NYSE:PFE opened at $28.47 on Wednesday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. 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 stock has a fifty day simple moving average of $29.07 and a 200-day simple moving average of $28.56. The company has a market capitalization of $161.33 billion, a PE ratio of -61.89, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its 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 company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. On average, equities research analysts expect that Pfizer Inc. will post 2.67 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 5.90%. Pfizer’s dividend payout ratio is currently -365.21%.

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.