Corrado Advisors LLC Decreases Holdings in Pfizer Inc. (NYSE:PFE)

Corrado Advisors LLC lessened its stake in Pfizer Inc. (NYSE:PFE) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,617 shares of the biopharmaceutical company’s stock after selling 1,928 shares during the quarter. 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 have also recently made changes to their positions in PFE. Olistico Wealth LLC purchased a new stake in Pfizer in the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer in the second quarter valued at $29,000. Quarry LP bought a new position in shares of Pfizer in the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. bought a new stake in Pfizer during the second quarter worth about $34,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Pfizer in the first quarter worth $37,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 2.7 %

Pfizer stock opened at $26.73 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.00. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The stock has a 50-day simple moving average of $28.89 and a 200-day simple moving average of $28.63. The company has a market capitalization of $151.48 billion, a P/E ratio of 36.12, a PEG ratio of 0.87 and a beta of 0.67.

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

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given 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 dividend yield of 6.29%. Pfizer’s payout ratio is 227.03%.

Analysts Set New Price Targets

A number of analysts recently commented on PFE shares. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Barclays lifted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, 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 note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Insiders Place Their Bets

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