Apollon Wealth Management LLC Sells 11,718 Shares of Pfizer Inc. (NYSE:PFE)

Apollon Wealth Management LLC cut its position in Pfizer Inc. (NYSE:PFE) by 5.5% in the third quarter, HoldingsChannel.com reports. The firm owned 201,782 shares of the biopharmaceutical company’s stock after selling 11,718 shares during the period. Apollon Wealth Management LLC’s holdings in Pfizer were worth $5,840,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PFE. Olistico Wealth LLC acquired a new position in shares of Pfizer during the second quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the second quarter valued at about $29,000. Quarry LP acquired a new position in shares of Pfizer during the second quarter valued at about $31,000. Financial Connections Group Inc. acquired a new position in shares of Pfizer during the second quarter valued at about $34,000. Finally, ESL Trust Services LLC acquired a new position in shares of Pfizer during the first quarter valued at about $37,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Down 1.8 %

Shares of NYSE:PFE opened at $26.24 on Tuesday. The business’s 50 day moving average price is $28.89 and its 200-day moving average price is $28.67. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.60. The firm has a market capitalization of $148.70 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the prior year, the company earned ($0.17) EPS. The firm’s revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.40%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently 227.03%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PFE shares. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” 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. 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, UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average price target of $33.58.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

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.