Concentric Wealth Management LLC Sells 568 Shares of Pfizer Inc. (NYSE:PFE)

Concentric Wealth Management LLC decreased its position in Pfizer Inc. (NYSE:PFE) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,298 shares of the biopharmaceutical company’s stock after selling 568 shares during the period. Concentric Wealth Management LLC’s holdings in Pfizer were worth $732,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares during the last quarter. Marshall Wace LLP boosted its holdings in Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after buying an additional 8,378,173 shares during the last quarter. Swedbank AB bought a new position in Pfizer during the first quarter worth about $172,902,000. International Assets Investment Management LLC bought a new position in Pfizer during the third quarter worth about $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after purchasing an additional 4,546,809 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of Pfizer stock opened at $25.65 on Monday. The company has a market cap of $145.36 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 0.82 and a beta of 0.67. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The business has a 50 day moving average price of $28.21 and a 200-day moving average price of $28.57. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings results 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of Pfizer 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 acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

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.