Raymond James & Associates Sells 349,305 Shares of Pfizer Inc. (NYSE:PFE)

Raymond James & Associates trimmed its stake in Pfizer Inc. (NYSE:PFE) by 4.1% in the third quarter, HoldingsChannel reports. The firm owned 8,209,415 shares of the biopharmaceutical company’s stock after selling 349,305 shares during the period. Raymond James & Associates’ holdings in Pfizer were worth $237,580,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Pfizer by 6.1% during the third quarter. Blue Trust Inc. now owns 53,559 shares of the biopharmaceutical company’s stock worth $1,499,000 after purchasing an additional 3,102 shares during the period. Moss Adams Wealth Advisors LLC raised its holdings in Pfizer by 5.4% during the third quarter. Moss Adams Wealth Advisors LLC now owns 22,111 shares of the biopharmaceutical company’s stock worth $640,000 after buying an additional 1,141 shares during the last quarter. KMG Fiduciary Partners LLC bought a new position in Pfizer in the 3rd quarter valued at about $2,891,000. Stratos Investment Management LLC lifted its position in Pfizer by 15.6% in the 3rd quarter. Stratos Investment Management LLC now owns 14,928 shares of the biopharmaceutical company’s stock valued at $432,000 after acquiring an additional 2,013 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in shares of Pfizer by 0.6% in the third quarter. Stratos Wealth Advisors LLC now owns 111,559 shares of the biopharmaceutical company’s stock worth $3,229,000 after purchasing an additional 621 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PFE has been the subject of several recent research reports. Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Sanford C. Bernstein started coverage on Pfizer in a research note on Thursday. They issued a “market perform” rating and a $32.00 target price on the stock. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Thursday, October 3rd. Seven investment 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 stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average price target of $33.91.

Pfizer Price Performance

Shares of NYSE PFE opened at $29.22 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The stock has a market cap of $165.58 billion, a PE ratio of -487.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67. The stock has a fifty day moving average of $29.07 and a 200-day moving average of $28.44.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.75%. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

Pfizer 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.