J.W. Cole Advisors Inc. Decreases Stake in Pfizer Inc. (NYSE:PFE)

J.W. Cole Advisors Inc. cut its position in Pfizer Inc. (NYSE:PFE) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,960 shares of the biopharmaceutical company’s stock after selling 9,888 shares during the period. J.W. Cole Advisors Inc.’s holdings in Pfizer were worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Olistico Wealth LLC purchased a new position in Pfizer in the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the 2nd quarter valued at about $29,000. Quarry LP acquired a new stake in shares of Pfizer during the 2nd quarter worth about $31,000. Financial Connections Group Inc. purchased a new stake in Pfizer during the second quarter worth approximately $34,000. Finally, ESL Trust Services LLC acquired a new position in Pfizer in the first quarter valued at approximately $37,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PFE. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. 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. Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group boosted their price objective 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, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Performance

PFE opened at $28.45 on Monday. 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 $161.21 billion, a P/E ratio of -474.17, a P/E/G ratio of 1.01 and a beta of 0.67. The stock’s 50 day simple moving average is $29.08 and its 200 day simple moving average is $28.53. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. As a group, equities analysts anticipate that Pfizer Inc. will post 2.67 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. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.91%. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

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.