Blodgett Wealth Advisors LLC Sells 981 Shares of Pfizer Inc. (NYSE:PFE)

Blodgett Wealth Advisors LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 6.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,461 shares of the biopharmaceutical company’s stock after selling 981 shares during the quarter. Blodgett Wealth Advisors LLC’s holdings in Pfizer were worth $390,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PFE. Los Angeles Capital Management LLC grew its stake in shares of Pfizer by 59.6% during the first quarter. Los Angeles Capital Management LLC now owns 47,663 shares of the biopharmaceutical company’s stock valued at $1,323,000 after buying an additional 17,799 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Pfizer during the first quarter valued at $725,000. Capital Advisors Wealth Management LLC purchased a new position in Pfizer in the 1st quarter worth about $202,000. Annex Advisory Services LLC grew its stake in Pfizer by 29.8% in the 1st quarter. Annex Advisory Services LLC now owns 11,005 shares of the biopharmaceutical company’s stock worth $305,000 after acquiring an additional 2,528 shares in the last quarter. Finally, Fermata Advisors LLC increased its position in shares of Pfizer by 42.5% during the first quarter. Fermata Advisors LLC now owns 11,348 shares of the biopharmaceutical company’s stock worth $315,000 after acquiring an additional 3,384 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PFE has been the topic of several research analyst reports. UBS Group increased their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised shares of 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 note on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Stock Performance

Pfizer stock traded down $0.08 during mid-day trading on Tuesday, reaching $28.85. 20,814,395 shares of the company traded hands, compared to its average volume of 36,960,008. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The firm’s fifty day moving average is $29.07 and its two-hundred day moving average is $28.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The company has a market capitalization of $163.48 billion, a price-to-earnings ratio of -479.33, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS 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 business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the business posted $0.67 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

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 issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is presently -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.