Raleigh Capital Management Inc. Sells 1,496 Shares of Pfizer Inc. (NYSE:PFE)

Raleigh Capital Management Inc. decreased its holdings in Pfizer Inc. (NYSE:PFE) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,332 shares of the biopharmaceutical company’s stock after selling 1,496 shares during the period. Raleigh Capital Management Inc.’s holdings in Pfizer were worth $1,746,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer in the second quarter valued at about $29,000. Quarry LP bought a new stake in shares of Pfizer during the second quarter worth $31,000. Trivant Custom Portfolio Group LLC increased its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in Pfizer during the 2nd quarter worth approximately $34,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Performance

PFE stock opened at $28.93 on Tuesday. 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 has a market cap of $163.93 billion, a PE ratio of -482.17, a P/E/G ratio of 1.02 and a beta of 0.67. The business has a 50 day moving average of $29.07 and a 200-day moving average of $28.47. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, sell-side analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 5.81%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is -2,800.00%.

Analyst Ratings Changes

A number of research firms have recently commented on PFE. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Barclays upped their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.91.

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.