TRUE Private Wealth Advisors Sells 14,240 Shares of Pfizer Inc. (NYSE:PFE)

TRUE Private Wealth Advisors reduced its position in Pfizer Inc. (NYSE:PFE) by 18.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,558 shares of the biopharmaceutical company’s stock after selling 14,240 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Pfizer were worth $1,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Pfizer by 39.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 25,946 shares of the biopharmaceutical company’s stock worth $665,000 after buying an additional 7,331 shares during the last quarter. Bright Futures Wealth Management LLC. bought a new position in shares of Pfizer in the first quarter worth about $321,000. GAMMA Investing LLC boosted its stake in shares of Pfizer by 94.7% in the 2nd quarter. GAMMA Investing LLC now owns 26,807 shares of the biopharmaceutical company’s stock valued at $750,000 after purchasing an additional 13,039 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its holdings in shares of Pfizer by 2.2% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 133,856 shares of the biopharmaceutical company’s stock valued at $3,959,000 after purchasing an additional 2,831 shares during the last quarter. Finally, First Financial Bank Trust Division increased its position in Pfizer by 8.4% during the 2nd quarter. First Financial Bank Trust Division now owns 226,869 shares of the biopharmaceutical company’s stock worth $6,348,000 after purchasing an additional 17,495 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Up 1.5 %

Shares of NYSE PFE opened at $26.21 on Friday. The company’s 50 day moving average price is $27.83 and its 200-day moving average price is $28.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a market capitalization of $148.53 billion, a P/E ratio of 35.42, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67.

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

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid 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 6.41%. Pfizer’s dividend payout ratio is currently 227.03%.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost 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. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PFE has been the topic of a number of research analyst reports. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

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.