Ironwood Investment Counsel LLC Sells 3,875 Shares of Pfizer Inc. (NYSE:PFE)

Ironwood Investment Counsel LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 16.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,057 shares of the biopharmaceutical company’s stock after selling 3,875 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Pfizer were worth $580,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Olistico Wealth LLC acquired a new stake in Pfizer during the second quarter worth approximately $25,000. Gladius Capital Management LP boosted its stake in Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares during the period. MFA Wealth Advisors LLC acquired a new position in Pfizer in the 2nd quarter valued at $29,000. Quarry LP bought a new position in Pfizer during the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the second quarter worth $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Up 1.5 %

Shares of Pfizer stock opened at $26.21 on Friday. The firm has a market capitalization of $148.53 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $27.83 and its 200 day moving average is $28.49. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping 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 company 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 business earned ($0.17) earnings per share. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. Equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company 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. This represents a $1.68 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PFE shares. Wolfe Research initiated coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock 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 research note on Wednesday, November 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Evercore ISI raised 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 assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.92.

Insider Activity

In related news, Director Scott Gottlieb bought 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, with a total value of $28,240.00. Following the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Pfizer 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.