Hennion & Walsh Asset Management Inc. Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Hennion & Walsh Asset Management Inc. trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 11.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,587 shares of the biopharmaceutical company’s stock after selling 5,256 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Pfizer were worth $1,146,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Olistico Wealth LLC purchased a new position in Pfizer during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer in the 2nd quarter valued at $29,000. Quarry LP purchased a new stake in Pfizer during the second quarter worth $31,000. Financial Connections Group Inc. acquired a new stake in Pfizer during the second quarter valued at $34,000. Finally, ESL Trust Services LLC purchased a new position in Pfizer in the first quarter valued at $37,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PFE shares. Barclays increased their target price on shares of 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 Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday. Finally, Citigroup started coverage on shares of Pfizer in a research note on Friday. They set a “neutral” rating and a $30.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Down 0.7 %

PFE stock opened at $28.45 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $29.08 and a two-hundred day moving average of $28.50. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The company has a market cap of $161.22 billion, a price-to-earnings ratio of -61.85, a PEG ratio of 1.01 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted 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. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. As a group, analysts forecast that Pfizer Inc. will post 2.67 earnings per share for the current fiscal 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 issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently -365.21%.

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.