Old Port Advisors Sells 3,545 Shares of Pfizer Inc. (NYSE:PFE)

Old Port Advisors lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,603 shares of the biopharmaceutical company’s stock after selling 3,545 shares during the quarter. Old Port Advisors’ holdings in Pfizer were worth $2,564,000 at the end of the most recent reporting period.

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

Pfizer Trading Up 1.5 %

Shares of PFE opened at $28.87 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $163.60 billion, a P/E ratio of -62.76, a P/E/G ratio of 0.99 and a beta of 0.67. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The business’s 50-day moving average price is $29.08 and its 200 day moving average price is $28.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share 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 company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts expect that Pfizer Inc. will post 2.67 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given 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 5.82%. Pfizer’s payout ratio is -365.21%.

Analysts Set New Price Targets

PFE has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Citigroup began coverage on Pfizer in a report on Friday. They issued a “neutral” rating and a $30.00 price target for the company. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

About Pfizer

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.