Sheets Smith Wealth Management Sells 2,896 Shares of Pfizer Inc. (NYSE:PFE)

Sheets Smith Wealth Management trimmed its stake in Pfizer Inc. (NYSE:PFE) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,937 shares of the biopharmaceutical company’s stock after selling 2,896 shares during the period. Sheets Smith Wealth Management’s holdings in Pfizer were worth $1,561,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP increased its position in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after purchasing an additional 8,378,173 shares in the last quarter. Swedbank AB acquired a new position in shares of Pfizer in the 1st quarter worth approximately $172,902,000. International Assets Investment Management LLC bought a new stake in Pfizer during the 3rd quarter worth approximately $146,481,000. 1832 Asset Management L.P. increased its holdings in Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after purchasing an additional 2,487,919 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Pfizer by 120.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,498,313 shares of the biopharmaceutical company’s stock valued at $130,181,000 after purchasing an additional 2,459,666 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

PFE stock opened at $26.72 on Friday. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The company has a quick ratio of 0.60, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market cap of $151.42 billion, a P/E ratio of 36.11, a price-to-earnings-growth ratio of 0.87 and a beta of 0.67. The business’s fifty day moving average is $28.89 and its 200-day moving average is $28.63.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PFE. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. UBS Group increased their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer currently has an average 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.