Simplicity Wealth LLC Has $1.05 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

Simplicity Wealth LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 73.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,356 shares of the biopharmaceutical company’s stock after selling 101,417 shares during the quarter. Simplicity Wealth LLC’s holdings in Pfizer were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PFE. FIL Ltd boosted its holdings in Pfizer by 97.1% in the fourth quarter. FIL Ltd now owns 7,582,518 shares of the biopharmaceutical company’s stock worth $218,301,000 after purchasing an additional 3,734,595 shares in the last quarter. Voisard Asset Management Group Inc. bought a new stake in Pfizer in the fourth quarter worth $86,000. Novak & Powell Financial Services Inc. bought a new stake in Pfizer in the fourth quarter worth $373,000. V Square Quantitative Management LLC boosted its holdings in Pfizer by 260.1% in the fourth quarter. V Square Quantitative Management LLC now owns 20,985 shares of the biopharmaceutical company’s stock worth $604,000 after purchasing an additional 15,158 shares in the last quarter. Finally, Sierra Summit Advisors LLC bought a new stake in Pfizer in the fourth quarter worth $209,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

PFE opened at $29.16 on Friday. Pfizer Inc. has a one year low of $25.20 and a one year high of $33.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The company’s 50 day simple moving average is $29.04 and its 200-day simple moving average is $28.38. The stock has a market capitalization of $165.24 billion, a P/E ratio of -486.00, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. Pfizer’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.76%. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays upped their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average price target of $34.54.

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.