Venturi Wealth Management LLC Reduces Stake in Pfizer Inc. (NYSE:PFE)

Venturi Wealth Management LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 18.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,022 shares of the biopharmaceutical company’s stock after selling 1,132 shares during the quarter. Venturi Wealth Management LLC’s holdings in Pfizer were worth $145,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Bond & Devick Financial Network Inc. lifted its position in shares of Pfizer by 5.7% during the 3rd quarter. Bond & Devick Financial Network Inc. now owns 18,579 shares of the biopharmaceutical company’s stock valued at $538,000 after buying an additional 1,000 shares during the last quarter. Delta Financial Advisors LLC raised its stake in Pfizer by 19.0% in the 3rd quarter. Delta Financial Advisors LLC now owns 35,441 shares of the biopharmaceutical company’s stock valued at $1,026,000 after acquiring an additional 5,653 shares during the period. Addison Advisors LLC lifted its holdings in Pfizer by 394.2% during the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after purchasing an additional 41,668 shares during the last quarter. Beam Wealth Advisors Inc. boosted its position in Pfizer by 41.6% during the third quarter. Beam Wealth Advisors Inc. now owns 27,043 shares of the biopharmaceutical company’s stock worth $783,000 after purchasing an additional 7,940 shares during the period. Finally, Patten & Patten Inc. TN increased its stake in shares of Pfizer by 14.0% in the third quarter. Patten & Patten Inc. TN now owns 89,182 shares of the biopharmaceutical company’s stock worth $2,581,000 after purchasing an additional 10,955 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent research reports. 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 price target on the stock. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup started coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Finally, StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Insiders Place Their Bets

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 purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by insiders.

Pfizer Price Performance

PFE stock opened at $26.72 on Thursday. The firm has a 50 day simple moving average of $28.80 and a two-hundred day simple moving average of $28.68. The stock has a market cap of $151.42 billion, a PE ratio of 36.11, a P/E/G ratio of 0.83 and a beta of 0.67. Pfizer Inc. has a one year low of $25.20 and a one 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 earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, analysts predict that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.29%. Pfizer’s payout ratio is 227.03%.

Pfizer Profile

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.