Sittner & Nelson LLC Decreases Stake in Pfizer Inc. (NYSE:PFE)

Sittner & Nelson LLC trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 7.0% during the third quarter, HoldingsChannel.com reports. The firm owned 54,333 shares of the biopharmaceutical company’s stock after selling 4,097 shares during the period. Pfizer makes up about 0.7% of Sittner & Nelson LLC’s portfolio, making the stock its 27th biggest holding. Sittner & Nelson LLC’s holdings in Pfizer were worth $1,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFE. Olistico Wealth LLC bought a new stake in Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at approximately $29,000. Quarry LP bought a new position in Pfizer during the second quarter worth $31,000. Financial Connections Group Inc. acquired a new position in Pfizer in the second quarter worth $34,000. Finally, ESL Trust Services LLC bought a new stake in Pfizer during the first quarter valued at $37,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE opened at $27.46 on Friday. The stock has a market cap of $155.62 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 0.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The stock’s 50 day moving average price is $28.96 and its 200 day moving average price is $28.64.

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

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued 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 6.12%. Pfizer’s payout ratio is currently 227.03%.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PFE. Citigroup initiated coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight research 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Company 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.