Calton & Associates Inc. Sells 7,712 Shares of Pfizer Inc. (NYSE:PFE)

Calton & Associates Inc. cut its position in Pfizer Inc. (NYSE:PFE) by 30.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,465 shares of the biopharmaceutical company’s stock after selling 7,712 shares during the period. Calton & Associates Inc.’s holdings in Pfizer were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Olistico Wealth LLC purchased a new stake in Pfizer in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the second quarter worth $29,000. Quarry LP bought a new stake in Pfizer in the second quarter valued at $31,000. Trivant Custom Portfolio Group LLC increased its position in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the 2nd quarter worth $34,000. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PFE has been the topic of a number of research reports. Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. UBS Group raised their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.91.

Pfizer Stock Down 0.5 %

Shares of PFE stock traded down $0.15 during trading hours on Tuesday, hitting $28.78. 722,140 shares of the company’s stock traded hands, compared to its average volume of 36,861,516. The stock’s fifty day simple moving average is $29.07 and its two-hundred day simple moving average is $28.47. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The stock has a market cap of $163.08 billion, a price-to-earnings ratio of -482.17, a PEG ratio of 1.02 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period last year, the business earned $0.67 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

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 issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.84%. Pfizer’s payout ratio is currently -2,800.00%.

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.