Bartlett & CO. Wealth Management LLC Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

Bartlett & CO. Wealth Management LLC cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,314 shares of the biopharmaceutical company’s stock after selling 9,031 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Pfizer were worth $4,900,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of Pfizer by 6.1% in the 3rd quarter. Blue Trust Inc. now owns 53,559 shares of the biopharmaceutical company’s stock worth $1,499,000 after purchasing an additional 3,102 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its stake in Pfizer by 5.4% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 22,111 shares of the biopharmaceutical company’s stock valued at $640,000 after acquiring an additional 1,141 shares during the period. KMG Fiduciary Partners LLC bought a new stake in shares of Pfizer in the third quarter worth approximately $2,891,000. Stratos Investment Management LLC raised its holdings in shares of Pfizer by 15.6% during the third quarter. Stratos Investment Management LLC now owns 14,928 shares of the biopharmaceutical company’s stock valued at $432,000 after purchasing an additional 2,013 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its holdings in Pfizer by 0.6% in the third quarter. Stratos Wealth Advisors LLC now owns 111,559 shares of the biopharmaceutical company’s stock worth $3,229,000 after purchasing an additional 621 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE opened at $29.22 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The stock has a 50-day moving average price of $29.07 and a 200 day moving average price of $28.44. The stock has a market capitalization of $165.58 billion, a P/E ratio of -487.00, a P/E/G ratio of 1.02 and a beta of 0.67.

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 analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. Equities research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.75%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is -2,800.00%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Thursday, October 3rd. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday. They issued a “market perform” rating and a $32.00 target price on the stock. UBS Group upped their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.91.

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.