Pfizer Inc. (NYSE:PFE) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,722 shares of the biopharmaceutical company’s stock after selling 848 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Pfizer were worth $426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FAS Wealth Partners Inc. boosted its position in 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 acquiring an additional 342 shares during the period. Sachetta LLC boosted its position 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. Ironvine Capital Partners LLC lifted its holdings 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 buying an additional 353 shares during the last quarter. Secure Asset Management LLC lifted 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 valued at $1,632,000 after buying an additional 353 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its holdings in shares of Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after buying an additional 355 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the subject of several research reports. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Citigroup initiated coverage on Pfizer in a report on Friday. They set a “neutral” rating and a $30.00 price target for the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company boosted 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. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Performance

Shares of NYSE PFE opened at $28.46 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $29.07 and its two-hundred day moving average is $28.49. The company has a market cap of $161.27 billion, a P/E ratio of -61.87, a P/E/G ratio of 1.01 and a beta of 0.67. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 EPS. On average, equities analysts expect that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently -365.21%.

About Pfizer

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.