Stonegate Investment Group LLC Decreases Stock Position in Pfizer Inc. (NYSE:PFE)

Stonegate Investment Group LLC lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,302 shares of the biopharmaceutical company’s stock after selling 1,539 shares during the period. Stonegate Investment Group LLC’s holdings in Pfizer were worth $2,845,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Olistico Wealth LLC purchased a new position in shares of Pfizer in the second quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the second quarter worth $29,000. Quarry LP purchased a new position in shares of Pfizer in the second quarter valued at $31,000. Trivant Custom Portfolio Group LLC lifted its holdings 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 worth $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PFE. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday. They issued a “market perform” rating and a $32.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.09 during trading on Friday, reaching $29.18. 6,324,440 shares of the company traded hands, compared to its average volume of 37,016,414. The stock has a market cap of $165.35 billion, a P/E ratio of -487.92, a PEG ratio of 1.30 and a beta of 0.67. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The firm’s fifty day simple moving average is $29.05 and its 200 day simple moving average is $28.42. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (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 company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the firm posted $0.67 EPS. Pfizer’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm 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. This represents a $1.68 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently -2,800.00%.

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.