Gratus Wealth Advisors LLC Cuts Position in Pfizer Inc. (NYSE:PFE)

Gratus Wealth Advisors LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 12.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,892 shares of the biopharmaceutical company’s stock after selling 2,407 shares during the quarter. Gratus Wealth Advisors LLC’s holdings in Pfizer were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Olistico Wealth LLC bought a new stake in Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the 2nd quarter worth about $29,000. Quarry LP bought a new position in Pfizer in the 2nd quarter worth about $31,000. Creekmur Asset Management LLC purchased a new stake in Pfizer during the 4th quarter valued at about $32,000. Finally, Trivant Custom Portfolio Group LLC increased its stake in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the topic of several analyst reports. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday. UBS Group upped 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. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Down 0.1 %

PFE opened at $29.18 on Wednesday. The firm’s 50 day simple moving average is $29.14 and its two-hundred day simple moving average is $28.33. The company has a market capitalization of $165.35 billion, a PE ratio of -486.33, a PEG ratio of 1.23 and a beta of 0.67. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $33.92. 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 announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period last year, the firm earned $0.67 EPS. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Pfizer Inc. will post 2.66 EPS for the current year.

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.