Pfizer Inc. (NYSE:PFE) Shares Sold by Convergence Financial LLC

Convergence Financial LLC lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 36.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,902 shares of the biopharmaceutical company’s stock after selling 6,371 shares during the period. Convergence Financial LLC’s holdings in Pfizer were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cromwell Holdings LLC raised its position in Pfizer by 16,151.1% during the third quarter. Cromwell Holdings LLC now owns 7,638 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 7,591 shares during the last quarter. Joel Isaacson & Co. LLC grew its holdings in shares of Pfizer by 2.2% during the third quarter. Joel Isaacson & Co. LLC now owns 77,645 shares of the biopharmaceutical company’s stock worth $2,247,000 after buying an additional 1,687 shares in the last quarter. Pavion Blue Capital LLC purchased a new stake in shares of Pfizer during the third quarter worth about $260,000. BayBridge Capital Group LLC purchased a new stake in shares of Pfizer during the third quarter worth about $1,116,000. Finally, Massachusetts Wealth Management grew its holdings in shares of Pfizer by 34.7% during the third quarter. Massachusetts Wealth Management now owns 96,232 shares of the biopharmaceutical company’s stock worth $2,785,000 after buying an additional 24,800 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of a number of recent research reports. Citigroup initiated coverage on shares of Pfizer in a report on Friday. They set a “neutral” rating and a $30.00 price target for the company. UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday. 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Trading Down 0.6 %

NYSE PFE opened at $28.46 on Friday. The company’s fifty day simple moving average is $29.07 and its 200-day simple moving average is $28.49. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a market cap of $161.27 billion, a P/E ratio of -61.87, a PEG ratio of 1.01 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 annualized dividend and a yield of 5.90%. Pfizer’s dividend payout ratio is presently -365.21%.

Pfizer 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.