Pfizer Inc. (NYSE:PFE) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 319,000 shares of the biopharmaceutical company’s stock after selling 1,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Pfizer were worth $9,232,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FAS Wealth Partners Inc. increased its position in shares of Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after purchasing an additional 342 shares in the last quarter. Sachetta LLC increased its holdings in shares of Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 342 shares in the last quarter. Ironvine Capital Partners LLC raised its stake in shares of Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 353 shares during the last quarter. Secure Asset Management LLC boosted its holdings in shares of Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after acquiring an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its position in Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.6 %

PFE opened at $28.46 on Friday. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The firm has a market cap of $161.27 billion, a PE ratio of -61.87, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. 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’s fifty day moving average is $29.07 and its two-hundred day moving average is $28.49.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business 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 business posted $0.67 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.42 per share. 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 5.90%. Pfizer’s payout ratio is -365.21%.

Analyst Upgrades and Downgrades

PFE has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday. Finally, Citigroup initiated coverage on shares of Pfizer in a research report on Friday. They issued a “neutral” rating and a $30.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.