Dover Advisors LLC Sells 1,165 Shares of Pfizer Inc. (NYSE:PFE)

Dover Advisors LLC decreased its holdings in Pfizer Inc. (NYSE:PFE) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,777 shares of the biopharmaceutical company’s stock after selling 1,165 shares during the period. Dover Advisors LLC’s holdings in Pfizer were worth $428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its position in shares of 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 valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp increased its stake in Pfizer by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after acquiring an additional 290,760 shares during the period. Federated Hermes Inc. lifted its position in shares of Pfizer by 3.3% during the 2nd 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. increased its position in shares of 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 during the period. Finally, Thornburg Investment Management Inc. raised its stake in Pfizer by 10.3% in the second quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock valued at $274,302,000 after purchasing an additional 912,156 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE PFE traded up $0.38 during midday trading on Tuesday, reaching $29.46. The company’s stock had a trading volume of 28,990,331 shares, compared to its average volume of 37,275,195. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $33.92. The firm has a 50 day moving average price of $29.02 and a 200-day moving average price of $28.40. The stock has a market capitalization of $166.94 billion, a P/E ratio of -494.00, a PEG ratio of 1.30 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) last posted its quarterly earnings data 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 positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.70%. Pfizer’s payout ratio is -2,800.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Thursday, October 3rd. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Company 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.