Concurrent Investment Advisors LLC Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

Concurrent Investment Advisors LLC decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,763 shares of the biopharmaceutical company’s stock after selling 5,061 shares during the period. Concurrent Investment Advisors LLC’s holdings in Pfizer were worth $4,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new position in Pfizer during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC acquired a new stake in Pfizer in the second quarter worth about $29,000. Quarry LP purchased a new stake in shares of Pfizer during the second quarter worth about $31,000. Financial Connections Group Inc. acquired a new position in shares of Pfizer during the second quarter valued at about $34,000. Finally, ESL Trust Services LLC purchased a new position in shares of Pfizer in the 1st quarter valued at approximately $37,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Pfizer Price Performance

NYSE:PFE opened at $27.35 on Thursday. 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 company has a 50 day moving average price of $28.96 and a 200-day moving average price of $28.64. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The firm has a market cap of $154.98 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 0.88 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The company had revenue of $17.70 billion during 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. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.14%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

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.