Lake Street Private Wealth LLC Sells 19,269 Shares of Pfizer Inc. (NYSE:PFE)

Lake Street Private Wealth LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 67.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,320 shares of the biopharmaceutical company’s stock after selling 19,269 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Pfizer were worth $270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FAS Wealth Partners Inc. raised its position in Pfizer by 1.3% in 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 during the last quarter. Sachetta LLC increased its stake in shares of Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 342 shares during the period. Ironvine Capital Partners LLC raised its position in shares of Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 353 shares during the last quarter. Secure Asset Management LLC raised its position in shares of Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after acquiring an additional 353 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its stake in shares of Pfizer by 0.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after acquiring an additional 355 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

PFE has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research 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. Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Stock Up 0.1 %

NYSE:PFE opened at $28.86 on Thursday. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54. The stock has a 50-day moving average price of $29.07 and a two-hundred day moving average price of $28.48. The stock has a market cap of $163.54 billion, a price-to-earnings ratio of -481.00, a PEG ratio of 1.02 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 EPS. As a group, equities analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 5.82%. Pfizer’s payout ratio is -2,800.00%.

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.