Aviance Capital Partners LLC Sells 1,155 Shares of Pfizer Inc. (NYSE:PFE)

Aviance Capital Partners LLC lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,563 shares of the biopharmaceutical company’s stock after selling 1,155 shares during the quarter. Aviance Capital Partners LLC’s holdings in Pfizer were worth $2,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Olistico Wealth LLC purchased a new position in Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the 2nd quarter worth $29,000. Gladius Capital Management LP boosted its holdings in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares during the last quarter. Quarry LP bought a new position in Pfizer during the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Pfizer during the second quarter worth about $34,000. 68.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Up 0.3 %

Shares of NYSE:PFE opened at $24.88 on Tuesday. The firm has a fifty day moving average price of $28.55 and a two-hundred day moving average price of $28.65. The company has a market cap of $140.97 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 0.79 and a beta of 0.67. 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 Inc. has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis. Analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 6.75%. Pfizer’s payout ratio is presently 227.03%.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $32.92.

About Pfizer

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.