B. Riley Wealth Advisors Inc. Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

B. Riley Wealth Advisors Inc. cut its position in Pfizer Inc. (NYSE:PFE) by 17.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 300,673 shares of the biopharmaceutical company’s stock after selling 64,478 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Pfizer were worth $8,628,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC purchased a new position in Pfizer during the second quarter valued at approximately $29,000. Gladius Capital Management LP raised its position in shares of Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares during the last quarter. Quarry LP bought a new position in shares of Pfizer during the second quarter worth $31,000. Financial Connections Group Inc. purchased a new position in Pfizer during the second quarter valued at $34,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Pfizer in the 3rd quarter worth $35,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Pfizer Stock Up 0.8 %

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 P/E ratio of 34.57, a P/E/G ratio of 0.63 and a beta of 0.65. The company’s 50-day simple moving average is $27.17 and its 200-day simple moving average is $28.27. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.72%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is currently 227.03%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wolfe Research started coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. 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 target price for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.43.

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.