Tower Bridge Advisors Sells 1,889 Shares of Pfizer Inc. (NYSE:PFE)

Tower Bridge Advisors lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,701 shares of the biopharmaceutical company’s stock after selling 1,889 shares during the quarter. Tower Bridge Advisors’ holdings in Pfizer were worth $1,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PFE. Olistico Wealth LLC bought a new position in shares of Pfizer during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer in the 2nd quarter valued at $29,000. Gladius Capital Management LP raised its position in Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares during the last quarter. Quarry LP bought a new position in Pfizer in the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the 2nd quarter valued at $34,000. Institutional investors own 68.36% of the company’s stock.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, 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 SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Pfizer Stock Down 4.7 %

Shares of Pfizer stock opened at $24.80 on Friday. 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 Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The business has a fifty day simple moving average of $28.64 and a 200 day simple moving average of $28.66. The stock has a market cap of $140.54 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. Research analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced 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 of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.77%. Pfizer’s payout ratio is 227.03%.

Analysts Set New Price Targets

Several equities analysts have issued reports on PFE shares. Citigroup started coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Barclays lifted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.92.

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.