Heritage Wealth Management Inc. Sells 1,316 Shares of Pfizer Inc. (NYSE:PFE)

Heritage Wealth Management Inc. trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,846 shares of the biopharmaceutical company’s stock after selling 1,316 shares during the period. Heritage Wealth Management Inc.’s holdings in Pfizer were worth $1,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PFE. Olistico Wealth LLC bought a new position in Pfizer during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer in the second quarter valued at about $29,000. Quarry LP bought a new position in shares of Pfizer during the second quarter valued at about $31,000. Financial Connections Group Inc. purchased a new position in Pfizer during the second quarter worth about $34,000. Finally, ESL Trust Services LLC bought a new stake in Pfizer in the 1st quarter worth about $37,000. 68.36% of the stock is owned by institutional investors.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by insiders.

Pfizer Stock Performance

PFE stock traded down $0.48 during midday trading on Friday, reaching $26.98. 5,401,082 shares of the company’s stock traded hands, compared to its average volume of 37,350,699. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The company has a 50-day moving average price of $28.96 and a two-hundred day moving average price of $28.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market capitalization of $152.90 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 0.88 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 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the prior year, the business posted ($0.17) earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. As a group, equities analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.23%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PFE. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.58.

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.