Hoertkorn Richard Charles Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Hoertkorn Richard Charles trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 25.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,909 shares of the biopharmaceutical company’s stock after selling 2,012 shares during the period. Hoertkorn Richard Charles’ holdings in Pfizer were worth $171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LGT Group Foundation raised its holdings in Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after buying an additional 18,274 shares during the period. Creative Planning raised its stake in shares of Pfizer by 17.1% in the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock valued at $52,692,000 after acquiring an additional 266,167 shares during the period. ORG Partners LLC lifted its holdings in shares of Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 44,458 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Pfizer by 10.3% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock valued at $7,422,000 after purchasing an additional 23,928 shares during the last quarter. Finally, Everett Harris & Co. CA raised its position in Pfizer by 21.7% in the third quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock valued at $6,319,000 after purchasing an additional 38,870 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE opened at $28.86 on Thursday. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $31.54. The firm’s fifty day simple moving average is $29.07 and its 200-day simple moving average is $28.48. The firm has a market capitalization of $163.54 billion, a price-to-earnings ratio of -481.00, a PEG ratio of 1.02 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.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period last year, the business earned $0.67 EPS. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 5.82%. Pfizer’s dividend payout ratio is presently -2,800.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PFE. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note 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. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday. Barclays lifted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.91.

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.