Concord Wealth Partners Decreases Position in Pfizer Inc. (NYSE:PFE)

Concord Wealth Partners cut its stake in Pfizer Inc. (NYSE:PFE) by 12.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,996 shares of the biopharmaceutical company’s stock after selling 718 shares during the quarter. Concord Wealth Partners’ holdings in Pfizer were worth $145,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms have weighed in on PFE. Citigroup began coverage on shares of Pfizer in a research note on Friday. They issued a “neutral” rating and a $30.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Stock Up 1.5 %

Pfizer stock opened at $28.87 on Tuesday. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a 50 day moving average price of $29.08 and a 200 day moving average price of $28.54. The company has a market capitalization of $163.60 billion, a PE ratio of -62.76, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted 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 business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Research analysts expect that Pfizer Inc. will post 2.67 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.82%. Pfizer’s dividend payout ratio (DPR) is -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.