Sequoia Financial Advisors LLC Boosts Position in Pfizer Inc. (NYSE:PFE)

Sequoia Financial Advisors LLC boosted its holdings in Pfizer Inc. (NYSE:PFE) by 55.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 422,143 shares of the biopharmaceutical company’s stock after buying an additional 151,293 shares during the period. Sequoia Financial Advisors LLC’s holdings in Pfizer were worth $12,217,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Harbor Advisory Corp MA raised its stake in shares of Pfizer by 3.0% during the third quarter. Harbor Advisory Corp MA now owns 126,272 shares of the biopharmaceutical company’s stock valued at $3,654,000 after purchasing an additional 3,640 shares during the period. RFP Financial Group LLC raised its stake in shares of Pfizer by 10.2% during the third quarter. RFP Financial Group LLC now owns 15,946 shares of the biopharmaceutical company’s stock valued at $461,000 after purchasing an additional 1,470 shares during the period. Telos Capital Management Inc. raised its stake in shares of Pfizer by 1.9% during the third quarter. Telos Capital Management Inc. now owns 21,553 shares of the biopharmaceutical company’s stock valued at $624,000 after purchasing an additional 397 shares during the period. Copeland Capital Management LLC purchased a new stake in shares of Pfizer during the third quarter valued at approximately $144,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Pfizer during the third quarter valued at approximately $103,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Thursday, October 3rd. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and an average target price of $33.91.

Pfizer Stock Performance

Pfizer stock opened at $28.85 on Wednesday. The company has a market cap of $163.46 billion, a PE ratio of -62.71, a P/E/G ratio of 1.02 and a beta of 0.67. The company has a fifty day moving average price of $29.07 and a two-hundred day moving average price of $28.48. 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 Inc. has a 12 month low of $25.20 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is -365.21%.

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.