Concentric Wealth Management LLC Sells 568 Shares of Pfizer Inc. (NYSE:PFE)

Concentric Wealth Management LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 2.2% during the third quarter, Holdings Channel.com reports. The firm owned 25,298 shares of the biopharmaceutical company’s stock after selling 568 shares during the quarter. Concentric Wealth Management LLC’s holdings in Pfizer were worth $732,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PFE. Olistico Wealth LLC bought a new stake in Pfizer in the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the second quarter valued at approximately $29,000. Gladius Capital Management LP raised its stake in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP bought a new position in Pfizer in the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the second quarter worth approximately $34,000. 68.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Wolfe Research initiated coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Finally, UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Insider Activity

In related news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction dated 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 purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Pfizer Trading Up 2.1 %

NYSE:PFE opened at $25.65 on Monday. The business’s 50-day simple moving average is $28.21 and its 200 day simple moving average is $28.57. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The stock has a market cap of $145.36 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 0.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) earnings per share. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.55%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

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.