Horst & Graben Wealth Management LLC Sells 692 Shares of Pfizer Inc. (NYSE:PFE)

by · The Cerbat Gem

Horst & Graben Wealth Management LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,361 shares of the biopharmaceutical company’s stock after selling 692 shares during the period. Horst & Graben Wealth Management LLC’s holdings in Pfizer were worth $358,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Van ECK Associates Corp boosted its position in shares of Pfizer by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after acquiring an additional 290,760 shares in the last quarter. Federated Hermes Inc. increased its stake in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the period. Envestnet Asset Management Inc. raised its position in Pfizer by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after purchasing an additional 238,850 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its stake in Pfizer by 10.3% during the second quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after purchasing an additional 912,156 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. UBS Group lifted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Seven 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 company’s stock. Based on data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

View Our Latest Report on PFE

Pfizer Trading Down 1.0 %

PFE opened at $28.93 on Tuesday. The firm has a 50 day simple moving average of $29.07 and a 200 day simple moving average of $28.47. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The company has a market cap of $163.93 billion, a price-to-earnings ratio of -482.17, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67. 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 (NYSE:PFE – Get Free Report) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating 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 company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.66 earnings per share 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.81%. Pfizer’s payout ratio is currently -2,800.00%.

Pfizer Profile

(Free Report)

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.

See Also

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