MONECO Advisors LLC Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

MONECO Advisors LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 22.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,756 shares of the biopharmaceutical company’s stock after selling 6,788 shares during the period. MONECO Advisors LLC’s holdings in Pfizer were worth $687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. LGT Group Foundation boosted its holdings in Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after purchasing an additional 18,274 shares in the last quarter. Creative Planning boosted its holdings in shares of Pfizer by 17.1% in the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock valued at $52,692,000 after buying an additional 266,167 shares in the last quarter. ORG Partners LLC grew its position in shares of Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after buying an additional 44,458 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in Pfizer by 10.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock worth $7,422,000 after acquiring an additional 23,928 shares in the last quarter. Finally, Everett Harris & Co. CA lifted its position in Pfizer by 21.7% in the third quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock valued at $6,319,000 after acquiring an additional 38,870 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Sanford C. Bernstein began coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Trading Down 1.4 %

Shares of Pfizer stock opened at $28.47 on Wednesday. The firm has a market cap of $161.33 billion, a price-to-earnings ratio of -61.89, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The company’s 50-day simple moving average is $29.07 and its 200-day simple moving average is $28.56. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the prior year, the business posted $0.67 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.67 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.90%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio 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.