Pfizer Inc. (NYSE:PFE) Shares Sold by BBR Partners LLC

BBR Partners LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,519 shares of the biopharmaceutical company’s stock after selling 505 shares during the quarter. BBR Partners LLC’s holdings in Pfizer were worth $1,202,000 at the end of the most recent reporting period.

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 shares of Pfizer in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the second quarter worth about $29,000. Gladius Capital Management LP raised its position in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares in the last quarter. Quarry LP acquired a new stake in Pfizer in the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Pfizer during the 2nd quarter valued at about $34,000. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set 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 given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Insider Buying and Selling

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Pfizer Stock Performance

Shares of NYSE PFE opened at $25.83 on Thursday. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The business’s 50-day moving average price is $27.97 and its two-hundred day moving average price is $28.52. 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 has a market capitalization of $146.38 billion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) EPS. Analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm 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 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 6.50%. Pfizer’s dividend payout ratio is currently 227.03%.

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.