Iron Gate Global Advisors LLC Sells 1,991 Shares of Pfizer Inc. (NYSE:PFE)

Iron Gate Global Advisors LLC reduced its holdings in Pfizer Inc. (NYSE:PFE) by 15.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,777 shares of the biopharmaceutical company’s stock after selling 1,991 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in Pfizer were worth $312,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer in the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer in the second quarter worth about $29,000. Gladius Capital Management LP grew its position 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 acquiring an additional 38,015 shares in the last quarter. Quarry LP bought a new stake in shares of Pfizer during the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Pfizer during the second quarter worth $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 1.5 %

PFE opened at $25.82 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market capitalization of $146.32 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 0.71 and a beta of 0.65. The business has a 50 day simple moving average of $27.83 and a two-hundred day simple moving average of $28.49. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business posted ($0.17) earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis. Analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.51%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PFE. Citigroup began coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Finally, Wolfe Research initiated coverage on Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Buying and Selling

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

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.