Corrado Advisors LLC Sells 1,928 Shares of Pfizer Inc. (NYSE:PFE)

Corrado Advisors LLC lowered its holdings in Pfizer Inc. (NYSE:PFE) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,617 shares of the biopharmaceutical company’s stock after selling 1,928 shares during the period. Corrado Advisors LLC’s holdings in Pfizer were worth $1,783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PFE. LGT Group Foundation increased its stake in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after acquiring an additional 18,274 shares during the period. Radnor Capital Management LLC acquired a new stake in shares of Pfizer during the 3rd quarter worth $2,972,000. Kornitzer Capital Management Inc. KS increased its position in shares of Pfizer by 2.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 1,168,315 shares of the biopharmaceutical company’s stock worth $33,811,000 after purchasing an additional 27,562 shares during the period. Capital Advisors Inc. OK raised its stake in Pfizer by 3.5% in the third quarter. Capital Advisors Inc. OK now owns 1,439,745 shares of the biopharmaceutical company’s stock valued at $41,666,000 after purchasing an additional 48,314 shares in the last quarter. Finally, Creative Planning lifted its position in Pfizer by 17.1% during the third quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after purchasing an additional 266,167 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the subject of several analyst reports. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Citigroup assumed coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein started coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Eight 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Down 2.7 %

Shares of PFE opened at $26.73 on Friday. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $151.48 billion, a PE ratio of 36.12, a PEG ratio of 0.87 and a beta of 0.67. The stock’s 50-day moving average price is $28.89 and its two-hundred day moving average price is $28.63.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. On average, analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared 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 of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.29%. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is 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.