Acorn Financial Advisory Services Inc. ADV Sells 603 Shares of Pfizer Inc. (NYSE:PFE)

Acorn Financial Advisory Services Inc. ADV lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,996 shares of the biopharmaceutical company’s stock after selling 603 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Pfizer were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its position in Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Pfizer by 2.8% in the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after acquiring an additional 456,168 shares during the period. Federated Hermes Inc. raised its stake in shares of Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the period. National Pension Service raised its stake in shares of Pfizer by 18.1% in the third quarter. National Pension Service now owns 11,516,769 shares of the biopharmaceutical company’s stock valued at $333,295,000 after acquiring an additional 1,762,520 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Pfizer by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after acquiring an additional 238,850 shares during the period. Institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PFE shares. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Stock Down 1.2 %

NYSE PFE traded down $0.32 during trading on Friday, reaching $26.72. 55,951,315 shares of the company’s stock traded hands, compared to its average volume of 37,583,031. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The firm has a market cap of $151.42 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 0.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.60. The company’s 50 day simple moving average is $28.89 and its two-hundred day simple moving average is $28.63.

Pfizer (NYSE:PFE) last released its quarterly earnings results 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 16.28%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period last year, the business earned ($0.17) EPS. The company’s revenue was up 31.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently 227.03%.

Insider Buying and Selling

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

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.