Granite Group Advisors LLC Sells 1,042 Shares of Pfizer Inc. (NYSE:PFE)

Granite Group Advisors LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,844 shares of the biopharmaceutical company’s stock after selling 1,042 shares during the quarter. Pfizer accounts for 0.8% of Granite Group Advisors LLC’s portfolio, making the stock its 27th largest position. Granite Group Advisors LLC’s holdings in Pfizer were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new stake in Pfizer in the 1st quarter valued at $315,000. GSA Capital Partners LLP acquired a new stake in shares of Pfizer in the first quarter valued at about $439,000. Duality Advisers LP bought a new stake in Pfizer during the first quarter worth about $1,009,000. Envestnet Portfolio Solutions Inc. boosted its position in Pfizer by 26.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 554,167 shares of the biopharmaceutical company’s stock valued at $15,378,000 after purchasing an additional 115,725 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Pfizer during the 1st quarter worth approximately $482,000. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the subject of a number of recent analyst reports. UBS Group increased 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. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE:PFE traded down $0.46 on Friday, reaching $27.00. 8,356,099 shares of the company’s stock were exchanged, compared to its average volume of 37,347,684. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The company has a fifty day moving average of $28.96 and a 200-day moving average of $28.64. The company has a market capitalization of $153.01 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 0.88 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) EPS. On average, research analysts predict that Pfizer Inc. will post 2.96 EPS 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 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 6.22%. Pfizer’s dividend payout ratio is currently 227.03%.

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.