Inlet Private Wealth LLC Sells 14,035 Shares of Pfizer Inc. (NYSE:PFE)

by · The Cerbat Gem

Inlet Private Wealth LLC decreased its position in Pfizer Inc. (NYSE:PFE – Free Report) by 23.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,208 shares of the biopharmaceutical company’s stock after selling 14,035 shares during the period. Inlet Private Wealth LLC’s holdings in Pfizer were worth $1,337,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PFE. Marshall Wace LLP increased its holdings in Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after purchasing an additional 8,378,173 shares in the last quarter. Swedbank AB bought a new position in shares of Pfizer during the 1st quarter worth about $172,902,000. Pzena Investment Management LLC increased its position in Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after buying an additional 4,947,000 shares in the last quarter. Van ECK Associates Corp raised its stake in Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock worth $438,820,000 after buying an additional 2,829,178 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Pfizer by 24,961.6% in the second quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after acquiring an additional 2,487,919 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent research reports. Barclays increased their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Thursday, October 3rd. UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. 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 report on Wednesday, August 7th. Finally, Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Seven equities 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.91.

Check Out Our Latest Stock Report on Pfizer

Pfizer Stock Performance

PFE traded down $0.40 during trading on Thursday, hitting $29.27. 8,016,154 shares of the company traded hands, compared to its average volume of 37,092,695. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a market cap of $165.86 billion, a P/E ratio of -489.17, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. Pfizer Inc. has a one year low of $25.20 and a one year high of $32.68. The stock’s fifty day moving average is $29.04 and its 200 day moving average is $28.42.

Pfizer (NYSE:PFE – Get Free Report) last released 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. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.67 earnings per share. As a group, equities analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.74%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

Pfizer Company Profile

(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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