MONECO Advisors LLC Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

MONECO Advisors LLC decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 22.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,756 shares of the biopharmaceutical company’s stock after selling 6,788 shares during the quarter. MONECO Advisors LLC’s holdings in Pfizer were worth $687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PFE. Diversify Advisory Services LLC boosted its position in Pfizer by 3.7% during the third quarter. Diversify Advisory Services LLC now owns 406,186 shares of the biopharmaceutical company’s stock worth $11,714,000 after purchasing an additional 14,457 shares in the last quarter. Integrated Advisors Network LLC raised its stake in shares of Pfizer by 18.3% during the 3rd quarter. Integrated Advisors Network LLC now owns 64,014 shares of the biopharmaceutical company’s stock worth $1,853,000 after buying an additional 9,925 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of Pfizer by 39.7% in the 3rd quarter. Fortitude Family Office LLC now owns 13,763 shares of the biopharmaceutical company’s stock worth $398,000 after buying an additional 3,914 shares in the last quarter. Wells Trecaso Financial Group LLC grew its stake in Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Pfizer by 132.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 20,361 shares of the biopharmaceutical company’s stock worth $589,000 after acquiring an additional 11,615 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Citigroup began coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Wells Fargo & Company raised 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. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Trading Down 1.4 %

Shares of PFE stock opened at $28.47 on Wednesday. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The firm’s 50-day simple moving average is $29.07 and its 200-day simple moving average is $28.56. The firm has a market cap of $161.33 billion, a P/E ratio of -61.89, a PEG ratio of 0.99 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last posted its quarterly 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. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the firm posted $0.67 earnings per share. Pfizer’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is currently -365.21%.

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.