LS Investment Advisors LLC Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

LS Investment Advisors LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 0.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 137,416 shares of the biopharmaceutical company’s stock after selling 1,108 shares during the period. LS Investment Advisors LLC’s holdings in Pfizer were worth $3,977,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Olistico Wealth LLC purchased a new position in Pfizer in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new position in Pfizer in the second quarter worth $29,000. Quarry LP bought a new position in Pfizer in the second quarter valued at $31,000. Financial Connections Group Inc. purchased a new stake in Pfizer during the second quarter valued at about $34,000. Finally, ESL Trust Services LLC purchased a new position in shares of Pfizer in the 1st quarter worth about $37,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Shares of PFE stock opened at $27.46 on Friday. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The stock has a market cap of $155.62 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 0.88 and a beta of 0.67. 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 company’s fifty day moving average price is $28.96 and its 200-day moving average price is $28.64.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) EPS. On average, equities analysts expect that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PFE shares. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Insider Buying and Selling

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.

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.