Carlton Hofferkamp & Jenks Wealth Management LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Carlton Hofferkamp & Jenks Wealth Management LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 6.6% during the third quarter, Holdings Channel reports. The firm owned 43,594 shares of the biopharmaceutical company’s stock after selling 3,094 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Pfizer were worth $1,210,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Olistico Wealth LLC purchased a new stake in Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the 2nd quarter valued at $29,000. Quarry LP purchased a new stake in shares of Pfizer in the 2nd quarter worth about $31,000. Financial Connections Group Inc. bought a new position in shares of Pfizer in the 2nd quarter worth about $34,000. Finally, ESL Trust Services LLC purchased a new position in Pfizer during the 1st quarter valued at about $37,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

Shares of PFE opened at $26.18 on Wednesday. The firm has a fifty day simple moving average of $28.80 and a two-hundred day simple moving average of $28.68. The firm has a market cap of $148.36 billion, a PE ratio of 35.38, a P/E/G ratio of 0.83 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PFE shares. StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.58.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.