Patton Albertson Miller Group LLC Cuts Stake in Pfizer Inc. (NYSE:PFE)

by · The Cerbat Gem

Patton Albertson Miller Group LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 3.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,484 shares of the biopharmaceutical company’s stock after selling 759 shares during the period. Patton Albertson Miller Group LLC’s holdings in Pfizer were worth $709,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PFE. China Universal Asset Management Co. Ltd. bought a new position in Pfizer in the 1st quarter worth approximately $315,000. Kennedy Capital Management LLC bought a new stake in shares of Pfizer during the 1st quarter valued at $3,992,000. Ancora Advisors LLC lifted its holdings in Pfizer by 2.7% during the 1st quarter. Ancora Advisors LLC now owns 255,277 shares of the biopharmaceutical company’s stock worth $7,084,000 after purchasing an additional 6,757 shares in the last quarter. Tidal Investments LLC boosted its stake in Pfizer by 6.8% in the 1st quarter. Tidal Investments LLC now owns 317,384 shares of the biopharmaceutical company’s stock worth $8,808,000 after purchasing an additional 20,241 shares during the period. Finally, Coppell Advisory Solutions Corp. purchased a new position in Pfizer during the 1st quarter valued at about $368,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Pfizer stock opened at $26.17 on Tuesday. The firm has a fifty day simple moving average of $28.13 and a two-hundred day simple moving average of $28.56. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a market capitalization of $148.31 billion, a PE ratio of 35.37, a P/E/G ratio of 0.82 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) EPS. The business’s quarterly revenue was up 31.2% on a year-over-year basis. Research analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PFE shares. Wells Fargo & Company raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Read Our Latest Stock Analysis on Pfizer

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

About Pfizer

(Free Report)

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.

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