Pfizer Inc. (NYSE:PFE) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lessened its stake in Pfizer Inc. (NYSE:PFE) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,066 shares of the biopharmaceutical company’s stock after selling 2,787 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Pfizer were worth $1,623,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. LGT Group Foundation increased its holdings in Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after buying an additional 18,274 shares in the last quarter. Creative Planning increased its stake in shares of Pfizer by 17.1% in the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock valued at $52,692,000 after purchasing an additional 266,167 shares in the last quarter. ORG Partners LLC raised its holdings in Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Pfizer by 10.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock worth $7,422,000 after purchasing an additional 23,928 shares in the last quarter. Finally, Everett Harris & Co. CA grew its holdings in Pfizer by 21.7% in the third quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock valued at $6,319,000 after purchasing an additional 38,870 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PFE. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Citigroup assumed coverage on shares of Pfizer in a report on Friday. They set a “neutral” rating and a $30.00 price objective on the stock. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Stock Down 0.7 %

NYSE PFE opened at $28.45 on Friday. The business’s fifty day simple moving average is $29.08 and its 200-day simple moving average is $28.51. 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 $161.21 billion, a PE ratio of -474.17, a P/E/G ratio of 1.01 and a beta of 0.67. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the business posted $0.67 EPS. Pfizer’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Pfizer Inc. will post 2.67 earnings per share for the current year.

Pfizer Dividend Announcement

The firm 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 dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.91%. Pfizer’s dividend payout ratio (DPR) is -2,800.00%.

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.