Lowe Brockenbrough & Co. Inc. Lowers Holdings in Pfizer Inc. (NYSE:PFE)

Lowe Brockenbrough & Co. Inc. reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,292 shares of the biopharmaceutical company’s stock after selling 19,877 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Pfizer were worth $7,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In other news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Pfizer Price Performance

PFE opened at $28.08 on Friday. The business has a fifty day moving average of $29.03 and a 200 day moving average of $28.57. The stock has a market cap of $159.12 billion, a P/E ratio of 37.95, a PEG ratio of 0.90 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current 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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Analysts Set New Price Targets

A number of research firms have recently commented on PFE. Barclays increased their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Citigroup began coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price 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.