Valmark Advisers Inc. Trims Holdings in Pfizer Inc. (NYSE:PFE)

Valmark Advisers Inc. cut its position in shares of Pfizer Inc. (NYSE:PFE) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,761 shares of the biopharmaceutical company’s stock after selling 2,925 shares during the quarter. Valmark Advisers Inc.’s holdings in Pfizer were worth $1,180,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PFE. Olistico Wealth LLC acquired a new position in Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer in the second quarter valued at $29,000. Quarry LP acquired a new stake in Pfizer in the 2nd quarter worth about $31,000. Financial Connections Group Inc. purchased a new stake in Pfizer in the 2nd quarter valued at about $34,000. Finally, ESL Trust Services LLC acquired a new position in shares of Pfizer during the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Down 1.4 %

NYSE PFE opened at $28.47 on Wednesday. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The stock has a market cap of $161.33 billion, a P/E ratio of -61.89, a PEG ratio of 0.99 and a beta of 0.67. 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 company’s fifty day simple moving average is $29.07 and its 200-day simple moving average is $28.56.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. Equities research analysts predict that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is currently -365.21%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PFE. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.58.

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.