Pfizer Inc. (NYSE:PFE) Shares Sold by Perkins Capital Management Inc.

Perkins Capital Management Inc. decreased its stake in Pfizer Inc. (NYSE:PFE) by 12.2% in the 3rd quarter, Holdings Channel reports. The firm owned 40,109 shares of the biopharmaceutical company’s stock after selling 5,566 shares during the quarter. Perkins Capital Management Inc.’s holdings in Pfizer were worth $1,161,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the second quarter worth about $29,000. Quarry LP purchased a new stake in shares of Pfizer in the second quarter valued at about $31,000. Financial Connections Group Inc. acquired a new stake in shares of Pfizer in the second quarter valued at approximately $34,000. Finally, ESL Trust Services LLC acquired a new stake in shares of Pfizer in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 2.3 %

NYSE:PFE opened at $27.35 on Thursday. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The business’s 50-day moving average is $28.96 and its two-hundred day moving average is $28.64. 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 firm has a market capitalization of $154.98 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 0.88 and a beta of 0.67.

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 16.40% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the company posted ($0.17) EPS. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. Research analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.14%. Pfizer’s payout ratio is currently 227.03%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, 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. Eight analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by insiders.

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.