Smith Chas P & Associates PA Cpas Has $1.69 Million Stake in Pfizer Inc. (NYSE:PFE)

Smith Chas P & Associates PA Cpas reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,519 shares of the biopharmaceutical company’s stock after selling 8,562 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Pfizer were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. FAS Wealth Partners Inc. boosted its stake in shares of Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 342 shares during the period. Sachetta LLC increased its position in shares of Pfizer by 7.3% in the second 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 period. Ironvine Capital Partners LLC raised its stake in Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 353 shares in the last quarter. Secure Asset Management LLC lifted its position in Pfizer by 0.6% during the second 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 period. Finally, Patrick M Sweeney & Associates Inc. grew its stake in Pfizer by 0.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PFE has been the subject of several analyst reports. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Down 0.6 %

Shares of PFE opened at $29.16 on Monday. The company has a market capitalization of $165.24 billion, a PE ratio of -486.00, a PEG ratio of 1.30 and a beta of 0.67. The stock’s 50-day moving average price is $29.04 and its two-hundred day moving average price is $28.39. 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 Inc. has a 12 month low of $25.20 and a 12 month high of $33.92.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the business earned $0.67 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is -2,800.00%.

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.