Ironwood Financial llc Sells 885 Shares of Pfizer Inc. (NYSE:PFE)

Ironwood Financial llc lowered its position in Pfizer Inc. (NYSE:PFE) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,472 shares of the biopharmaceutical company’s stock after selling 885 shares during the period. Ironwood Financial llc’s holdings in Pfizer were worth $969,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in shares of Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Van ECK Associates Corp lifted its stake in Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after buying an additional 290,760 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after buying an additional 470,003 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after acquiring an additional 238,850 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its holdings in shares of Pfizer by 10.3% during the second quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after acquiring an additional 912,156 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE PFE traded down $0.28 on Thursday, hitting $29.39. 2,569,333 shares of the stock were exchanged, compared to its average volume of 37,065,598. The company has a market capitalization of $166.54 billion, a PE ratio of -494.33, a P/E/G ratio of 1.30 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The business’s fifty day moving average is $29.04 and its 200 day moving average is $28.42. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $32.68.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. Research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PFE shares. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday. They issued a “market perform” rating and a $32.00 target price for the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Thursday, October 3rd. Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded 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. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.91.

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.