Garland Capital Management Inc. Cuts Holdings in Pfizer Inc. (NYSE:PFE)

Garland Capital Management Inc. lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 11.2% in the third quarter, Holdings Channel reports. The institutional investor owned 122,731 shares of the biopharmaceutical company’s stock after selling 15,491 shares during the period. Pfizer accounts for 2.7% of Garland Capital Management Inc.’s holdings, making the stock its 21st biggest position. Garland Capital Management Inc.’s holdings in Pfizer were worth $3,552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PFE. LGT Group Foundation lifted its position in shares of Pfizer by 2.5% during the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after buying an additional 18,274 shares during the last quarter. Capital Advisors Inc. OK raised its stake in shares of Pfizer by 3.5% during the 3rd quarter. Capital Advisors Inc. OK now owns 1,439,745 shares of the biopharmaceutical company’s stock worth $41,666,000 after acquiring an additional 48,314 shares in the last quarter. Creative Planning lifted its position in Pfizer by 17.1% during the third quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock valued at $52,692,000 after acquiring an additional 266,167 shares during the last quarter. ORG Partners LLC boosted its position in shares of Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Pfizer by 10.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock worth $7,422,000 after acquiring an additional 23,928 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE traded down $0.01 during mid-day trading on Tuesday, hitting $27.75. 6,934,879 shares of the company were exchanged, compared to its average volume of 37,141,242. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The stock has a market cap of $157.25 billion, a price-to-earnings ratio of 37.51, a price-to-earnings-growth ratio of 0.89 and a beta of 0.67. The company has a 50 day moving average of $29.01 and a 200-day moving average of $28.63.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter last year, the business posted ($0.17) earnings per share. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PFE shares. Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. UBS Group increased their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.58.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Pfizer 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.