Pathway Financial Advisers LLC Sells 17,982 Shares of Pfizer Inc. (NYSE:PFE)

Pathway Financial Advisers LLC lowered its position in Pfizer Inc. (NYSE:PFE) by 31.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,605 shares of the biopharmaceutical company’s stock after selling 17,982 shares during the period. Pathway Financial Advisers LLC’s holdings in Pfizer were worth $1,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PFE. Cornerstone Wealth Management LLC boosted its holdings in Pfizer by 19.4% in the first quarter. Cornerstone Wealth Management LLC now owns 63,545 shares of the biopharmaceutical company’s stock worth $1,763,000 after acquiring an additional 10,314 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Pfizer by 45.0% during the first quarter. First Trust Direct Indexing L.P. now owns 51,735 shares of the biopharmaceutical company’s stock valued at $1,436,000 after buying an additional 16,060 shares during the last quarter. Accel Wealth Management purchased a new position in shares of Pfizer during the first quarter valued at approximately $205,000. American National Bank & Trust Co. VA purchased a new position in shares of Pfizer during the first quarter valued at approximately $285,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of Pfizer during the first quarter valued at approximately $315,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of PFE opened at $28.52 on Thursday. The firm has a market cap of $161.61 billion, a PE ratio of 38.54, a PEG ratio of 0.99 and a beta of 0.67. The stock’s fifty day moving average price is $29.06 and its two-hundred day moving average price is $28.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1 year low of $25.20 and a 1 year 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 the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. On average, equities research analysts forecast that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.89%. Pfizer’s payout ratio is presently 227.03%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pfizer 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.