LJI Wealth Management LLC Lowers Position in Pfizer Inc. (NYSE:PFE)

LJI Wealth Management LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.7% in the 3rd quarter, Holdings Channel reports. The firm owned 10,874 shares of the biopharmaceutical company’s stock after selling 782 shares during the period. LJI Wealth Management LLC’s holdings in Pfizer were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PFE. Olistico Wealth LLC purchased a new position in Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the 2nd quarter worth about $29,000. Quarry LP purchased a new position in shares of Pfizer during the 2nd quarter valued at about $31,000. Financial Connections Group Inc. bought a new stake in Pfizer in the 2nd quarter worth approximately $34,000. Finally, ESL Trust Services LLC purchased a new stake in Pfizer in the first quarter worth approximately $37,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Pfizer Price Performance

PFE stock traded down $1.22 during mid-day trading on Friday, hitting $24.80. The company had a trading volume of 131,074,383 shares, compared to its average volume of 38,229,605. The company has a 50-day moving average price of $28.64 and a 200 day moving average price of $28.64. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The company has a market capitalization of $140.54 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 0.85 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) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) EPS. On average, research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Dividend Announcement

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 paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.77%. Pfizer’s payout ratio is currently 227.03%.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

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.