Kingsview Wealth Management LLC Sells 171,822 Shares of Pfizer Inc. (NYSE:PFE)

Kingsview Wealth Management LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 58.2% during the third quarter, Holdings Channel.com reports. The firm owned 123,629 shares of the biopharmaceutical company’s stock after selling 171,822 shares during the period. Kingsview Wealth Management LLC’s holdings in Pfizer were worth $3,578,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PFE. FAS Wealth Partners Inc. increased its holdings in shares of Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after acquiring an additional 342 shares during the period. Sachetta LLC grew its stake in Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC raised its holdings in Pfizer by 2.5% in the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 350 shares in the last quarter. Secure Asset Management LLC lifted its position in shares of Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 353 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Pfizer by 0.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after buying an additional 355 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Wolfe Research started coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Barclays upped their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.92.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Up 2.1 %

NYSE:PFE opened at $25.65 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The company’s fifty day moving average price is $28.21 and its 200-day moving average price is $28.57. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The firm has a market capitalization of $145.36 billion, a P/E ratio of 34.66, a PEG ratio of 0.82 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business posted ($0.17) EPS. The company’s revenue was up 31.2% on a year-over-year basis. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The business 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 annualized dividend and a yield of 6.55%. Pfizer’s dividend payout ratio is presently 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.