Pfizer Inc. (NYSE:PFE) Shares Sold by Beaird Harris Wealth Management LLC

Beaird Harris Wealth Management LLC reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 39.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,752 shares of the biopharmaceutical company’s stock after selling 2,489 shares during the period. Beaird Harris Wealth Management LLC’s holdings in Pfizer were worth $109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer in the 2nd quarter valued at $29,000. Gladius Capital Management LP grew its stake in Pfizer by 102.8% during 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 last quarter. Quarry LP acquired a new position in shares of Pfizer in the second quarter valued at about $31,000. Financial Connections Group Inc. purchased a new position in shares of Pfizer in the second quarter worth about $34,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer during the third quarter worth about $35,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Performance

NYSE:PFE opened at $25.58 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a market capitalization of $144.96 billion, a PE ratio of 34.57, a P/E/G ratio of 0.63 and a beta of 0.65. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a fifty day moving average of $27.17 and a two-hundred day moving average of $28.27.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period last year, the company posted ($0.17) EPS. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.72%. Pfizer’s dividend payout ratio is presently 227.03%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PFE shares. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Guggenheim reduced their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup began coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday. Finally, Sanford C. Bernstein assumed coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.43.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.06% of the company’s stock.

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.