KCM Investment Advisors LLC Sells 11,876 Shares of Pfizer Inc. (NYSE:PFE)

KCM Investment Advisors LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 8.7% in the third quarter, HoldingsChannel.com reports. The firm owned 124,227 shares of the biopharmaceutical company’s stock after selling 11,876 shares during the period. KCM Investment Advisors LLC’s holdings in Pfizer were worth $3,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new stake in Pfizer during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the 2nd quarter worth approximately $29,000. Quarry LP bought a new stake in Pfizer during the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. bought a new stake in Pfizer during the 2nd quarter worth approximately $34,000. Finally, ESL Trust Services LLC bought a new stake in Pfizer during the 1st quarter worth approximately $37,000. 68.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PFE. Citigroup began coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Price Performance

Shares of Pfizer stock traded down $0.82 during trading on Friday, hitting $25.20. The stock had a trading volume of 48,698,549 shares, compared to its average volume of 37,839,766. The firm has a market cap of $142.81 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 0.85 and a beta of 0.67. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The business’s 50-day moving average is $28.71 and its 200 day moving average is $28.65. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its quarterly 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. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 6.67%. Pfizer’s payout ratio is currently 227.03%.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer 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.