Sequoia Financial Advisors LLC Reduces Stock Position in Pfizer Inc. $PFE

Key Points

• Sequoia Financial Advisors LLC reduced its shareholding in Pfizer Inc. by 5.8% during the second quarter, holding 336,033 shares valued at approximately $8.15 million as per its latest 13F filing.
• Several other institutional investors have adjusted their stakes in Pfizer, with Hedge funds owning 68.36% of the company's stock collectively.
• Pfizer recently declared a quarterly dividend of $0.43 per share, translating to an annual yield of 7.0%, with the ex-dividend date set for November 7th.

Sequoia Financial Advisors LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,033 shares of the biopharmaceutical company's stock after selling 20,672 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Pfizer were worth $8,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital Advisory Group Advisory Services LLC boosted its stake in Pfizer by 2.9% in the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company's stock worth $328,000 after buying an additional 388 shares during the last quarter. Citizens National Bank Trust Department boosted its stake in Pfizer by 0.9% in the 2nd quarter. Citizens National Bank Trust Department now owns 46,103 shares of the biopharmaceutical company's stock worth $1,118,000 after buying an additional 395 shares during the last quarter. Trust Co of the South boosted its stake in Pfizer by 1.5% in the 2nd quarter. Trust Co of the South now owns 29,386 shares of the biopharmaceutical company's stock worth $712,000 after buying an additional 441 shares during the last quarter. Charter Oak Capital Management LLC boosted its stake in Pfizer by 4.3% in the 2nd quarter. Charter Oak Capital Management LLC now owns 10,663 shares of the biopharmaceutical company's stock worth $258,000 after buying an additional 444 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in Pfizer by 0.5% in the 2nd quarter. Ballentine Partners LLC now owns 93,228 shares of the biopharmaceutical company's stock worth $2,260,000 after buying an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PFE. Weiss Ratings reissued a "hold (c-)" rating on shares of Pfizer in a research note on Wednesday, October 8th. Bank of America lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Morgan Stanley reduced their price objective on Pfizer from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday. Citigroup lifted their price objective on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered Pfizer from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $28.35.

Pfizer Stock Performance

Pfizer stock opened at $24.72 on Tuesday. The stock's 50 day moving average price is $24.88 and its 200 day moving average price is $24.12. The firm has a market capitalization of $140.52 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. Pfizer Inc. has a one year low of $20.92 and a one year high of $29.82.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.58 by $0.20. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.Pfizer's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.72 annualized dividend and a yield of 7.0%. Pfizer's payout ratio is 91.49%.

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.

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