Freedom Investment Management Inc. Sells 1,478 Shares of Pfizer Inc. (NYSE:PFE)

Freedom Investment Management Inc. trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 7.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,945 shares of the biopharmaceutical company’s stock after selling 1,478 shares during the quarter. Freedom Investment Management Inc.’s holdings in Pfizer were worth $548,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Olistico Wealth LLC bought a new stake in shares of Pfizer in the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in Pfizer in the 2nd quarter worth approximately $29,000. Gladius Capital Management LP raised its position in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares in the last quarter. Quarry LP bought a new stake in Pfizer in the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer in the 2nd quarter valued at $34,000. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PFE. Citigroup assumed coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Wolfe Research started coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target on the stock. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Sanford C. Bernstein began coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Stock Performance

PFE stock opened at $26.21 on Friday. The stock has a market capitalization of $148.53 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67. The stock’s 50 day simple moving average is $27.83 and its 200 day simple moving average is $28.49. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating 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 company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period last year, the firm posted ($0.17) earnings per share. Pfizer’s revenue was up 31.2% compared to the same quarter last year. As a group, research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given 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 6.41%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Insider Buying and Selling

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Pfizer 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.