Concord Wealth Partners Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Concord Wealth Partners reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 12.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,996 shares of the biopharmaceutical company’s stock after selling 718 shares during the period. Concord Wealth Partners’ holdings in Pfizer were worth $145,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Olistico Wealth LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the second quarter valued at $29,000. Quarry LP purchased a new stake in Pfizer in the second quarter valued at $31,000. Financial Connections Group Inc. purchased a new stake in Pfizer in the second quarter valued at $34,000. Finally, ESL Trust Services LLC purchased a new stake in Pfizer in the first quarter valued at $37,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 1.5 %

Shares of NYSE PFE opened at $28.87 on Tuesday. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The company has a market capitalization of $163.60 billion, a PE ratio of -62.76, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm’s 50-day moving average is $29.08 and its two-hundred day moving average is $28.54.

Pfizer (NYSE:PFE) last announced its quarterly 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 company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -365.21%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Citigroup initiated coverage on shares of Pfizer in a research report on Friday. They issued a “neutral” rating and a $30.00 price target for the company. UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Eight equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.