Drive Wealth Management LLC Trims Stake in Pfizer Inc. (NYSE:PFE)

Drive Wealth Management LLC lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 41.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,006 shares of the biopharmaceutical company’s stock after selling 8,590 shares during the quarter. Drive Wealth Management LLC’s holdings in Pfizer were worth $347,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Pfizer in the first quarter valued at approximately $315,000. Edgestream Partners L.P. bought a new stake in shares of Pfizer in the 1st quarter valued at about $243,000. Hillsdale Investment Management Inc. raised its position in Pfizer by 111.3% during the first quarter. Hillsdale Investment Management Inc. now owns 3,132 shares of the biopharmaceutical company’s stock valued at $87,000 after acquiring an additional 1,650 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Pfizer by 7.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 317,495 shares of the biopharmaceutical company’s stock valued at $8,810,000 after acquiring an additional 20,950 shares during the period. Finally, Lake Street Advisors Group LLC boosted its position in Pfizer by 17.1% in the 1st quarter. Lake Street Advisors Group LLC now owns 27,135 shares of the biopharmaceutical company’s stock worth $753,000 after purchasing an additional 3,963 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were acquired 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Up 0.3 %

Shares of NYSE:PFE opened at $24.88 on Tuesday. The firm’s 50-day moving average is $28.55 and its two-hundred day moving average is $28.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The firm has a market capitalization of $140.97 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) earnings per share. Analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

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 issued 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 dividend yield of 6.75%. Pfizer’s payout ratio is 227.03%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PFE. Daiwa Capital Markets raised shares of 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 report on Wednesday, August 7th. Wells Fargo & Company increased their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Finally, Wolfe Research assumed coverage on Pfizer in a research report on Friday. They issued an “underperform” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

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.