Pfizer Inc. $PFE Holdings Reduced by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC reduced its Pfizer stake by 33.9% in the third quarter, selling 55,504 shares and retaining 108,185 shares valued at approximately $3.1 million. Institutional investors and hedge funds collectively own 68.36% of Pfizer.
• Analyst sentiment remains cautious: Pfizer has an average rating of “Hold”, with 13 Hold, five Buy and two Sell ratings, and an average price target of $28.65.
• Pfizer reported quarterly earnings of $0.77 per share, beating estimates of $0.68, while revenue rose 2.6% year over year to $15.03 billion. The company also declared a quarterly dividend of $0.43 per share, representing a 5.6% annualized yield.

International Assets Investment Management LLC cut its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 33.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,185 shares of the biopharmaceutical company's stock after selling 55,504 shares during the period. International Assets Investment Management LLC's holdings in Pfizer were worth $3,085,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Retirement Wealth Solutions LLC grew its holdings in shares of Pfizer by 144.6% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 861 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 509 shares during the last quarter. Keb Asset Management LLC acquired a new stake in Pfizer during the 2nd quarter worth $26,000. Field & Main Bank acquired a new stake in shares of Pfizer during the second quarter worth $27,000. Bullseye Investment Management LLC acquired a new position in Pfizer during the 2nd quarter worth approximately $28,000. Finally, Timbuktu Capital Management LLC acquired a new stake in shares of Pfizer in the second quarter valued at about $29,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Pfizer from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. Scotiabank lifted their price objective on shares of Pfizer from $30.00 to $33.00 and gave the company an "outperform" rating in a research report on Tuesday, October 6th. HSBC boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, September 10th. Bank of America cut their target price on shares of Pfizer from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded Pfizer from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 31st. Five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Pfizer has an average rating of "Hold" and an average target price of $28.65.

Pfizer Price Performance

Shares of PFE opened at $30.73 on Tuesday. The firm has a market capitalization of $175.16 billion, a PE ratio of 40.44, a PEG ratio of 2.00 and a beta of 0.32. The company's 50-day moving average is $28.60 and its 200-day moving average is $26.82. Pfizer Inc. has a fifty-two week low of $23.62 and a fifty-two week high of $31.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.27 and a quick ratio of 0.96.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.68 by $0.09. The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.40 billion. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. Pfizer's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. Equities analysts forecast that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Friday, November 6th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, November 6th. Pfizer's payout ratio is currently 226.32%.

Pfizer Company Profile

Pfizer Inc is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its research activities span areas including oncology, internal medicine, inflammation and immunology, hospital care, infectious diseases and rare diseases.

The company's portfolio includes medicines such as Eliquis, Ibrance, Prevnar and Vyndaqel, as well as vaccines including Comirnaty, Abrysvo and Prevnar. Pfizer also develops treatments through internal research, licensing agreements and collaborations with other pharmaceutical and biotechnology companies.

Founded in Brooklyn, New York, in 1849 by Charles Pfizer and Charles Erhart, Pfizer has grown into an international healthcare company serving patients and healthcare providers in markets around the world.

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