Ellis Investment Partners LLC Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Ellis Investment Partners LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,511 shares of the biopharmaceutical company’s stock after selling 402 shares during the quarter. Ellis Investment Partners LLC’s holdings in Pfizer were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Olistico Wealth LLC purchased a new position in shares of Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in Pfizer during the 2nd quarter valued at $29,000. Quarry LP purchased a new position in Pfizer during the 2nd quarter valued at $31,000. Financial Connections Group Inc. purchased a new position in Pfizer during the 2nd quarter valued at $34,000. Finally, ESL Trust Services LLC purchased a new position in Pfizer during the 1st quarter valued at $37,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Pfizer in a research report on Friday. They set a “neutral” rating and a $30.00 price objective on the stock. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Price Performance

PFE opened at $28.45 on Monday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The stock has a market capitalization of $161.21 billion, a P/E ratio of -474.17, a P/E/G ratio of 1.01 and a beta of 0.67. 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 company’s 50-day simple moving average is $29.08 and its two-hundred day simple moving average is $28.53.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts predict that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Announces Dividend

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 dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is currently -2,800.00%.

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.