Pfizer Inc. (NYSE:PFE) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 16.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 113,684 shares of the biopharmaceutical company’s stock after selling 22,057 shares during the period. Summit Trail Advisors LLC’s holdings in Pfizer were worth $3,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FAS Wealth Partners Inc. grew 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 grew its position in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC grew its position in Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 350 shares during the last quarter. Ironvine Capital Partners LLC grew its position in Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after purchasing an additional 353 shares during the last quarter. Finally, Secure Asset Management LLC grew its position in Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on PFE shares. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. UBS Group lifted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wolfe Research began coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, 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 report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Insider Activity

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Pfizer Trading Up 2.1 %

PFE stock opened at $25.65 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company’s 50-day simple moving average is $28.21 and its 200 day simple moving average is $28.57. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a market capitalization of $145.36 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 0.80 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) earnings per share. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. 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 6.55%. Pfizer’s payout ratio is currently 227.03%.

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.