Ashton Thomas Private Wealth LLC Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Ashton Thomas Private Wealth LLC trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 30.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,958 shares of the biopharmaceutical company’s stock after selling 25,833 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Pfizer were worth $1,677,000 at the end of the most recent reporting period.

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

Pfizer Trading Down 0.2 %

PFE opened at $26.18 on Wednesday. The firm has a market capitalization of $148.36 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67. The company’s 50 day simple moving average is $28.84 and its two-hundred day simple moving average is $28.67. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. 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 (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. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) earnings per share. Analysts expect that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.42%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is currently 227.03%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PFE has been the subject of a number of analyst reports. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.58.

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.