Shulman DeMeo Asset Management LLC Sells 3,209 Shares of Pfizer Inc. (NYSE:PFE)

Shulman DeMeo Asset Management LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 12.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 22,004 shares of the biopharmaceutical company’s stock after selling 3,209 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in Pfizer were worth $637,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. FAS Wealth Partners Inc. increased its holdings in Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after purchasing an additional 342 shares during the period. Sachetta LLC increased its stake in shares of 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 buying an additional 342 shares during the period. Ironvine Capital Partners LLC raised its position in shares of Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 353 shares during the last quarter. Secure Asset Management LLC raised 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 worth $1,632,000 after acquiring an additional 353 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its stake in shares of Pfizer by 0.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 355 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Up 1.2 %

PFE stock traded up $0.36 during midday trading on Tuesday, reaching $29.44. 27,433,494 shares of the company’s stock traded hands, compared to its average volume of 37,274,496. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $33.92. The company has a market cap of $166.82 billion, a price-to-earnings ratio of -494.00, a P/E/G ratio of 1.30 and a beta of 0.67. The firm’s fifty day moving average price is $29.02 and its 200-day moving average price is $28.40. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.71%. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PFE shares. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

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.