King Wealth Management Group Sells 1,041 Shares of Pfizer Inc. (NYSE:PFE)

King Wealth Management Group lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 6.9% in the third quarter, Holdings Channel reports. The institutional investor owned 14,153 shares of the biopharmaceutical company’s stock after selling 1,041 shares during the period. King Wealth Management Group’s holdings in Pfizer were worth $410,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. FAS Wealth Partners Inc. grew its position in shares of Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after purchasing an additional 342 shares in the last quarter. Sachetta LLC increased its stake in Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares during the period. Wells Trecaso Financial Group LLC raised its holdings in Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares in the last quarter. Ironvine Capital Partners LLC lifted its position in shares of Pfizer by 2.1% during the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 353 shares during the period. Finally, Secure Asset Management LLC grew its holdings in shares of Pfizer by 0.6% during the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after purchasing an additional 353 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Wolfe Research assumed coverage on shares of Pfizer in a research note on Friday. They issued an “underperform” rating and a $25.00 price objective on the stock. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Price Performance

PFE stock opened at $26.02 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm has a market cap of $147.46 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 0.85 and a beta of 0.67. The company’s fifty day simple moving average is $28.76 and its 200 day simple moving average is $28.67. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $14.92 billion. During the same quarter last year, the firm posted ($0.17) earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis. On average, analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently announced 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 6.46%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is presently 227.03%.

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.