Cassaday & Co Wealth Management LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Cassaday & Co Wealth Management LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,510 shares of the biopharmaceutical company’s stock after selling 2,408 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Pfizer were worth $970,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Olistico Wealth LLC purchased a new position in Pfizer in the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer in the second quarter valued at approximately $29,000. Gladius Capital Management LP boosted its holdings in shares of Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares during the period. Quarry LP acquired a new stake in shares of Pfizer in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer in the second quarter valued at approximately $34,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Down 4.7 %

Shares of PFE stock opened at $24.80 on Monday. The stock has a 50-day simple moving average of $28.64 and a 200 day simple moving average of $28.67. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The stock has a market capitalization of $140.54 billion, a P/E ratio of 33.51, a P/E/G ratio of 0.79 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the business earned ($0.17) EPS. The business’s quarterly revenue was up 31.2% on a year-over-year basis. On average, sell-side analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is 227.03%.

Insider Activity

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PFE shares. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Wolfe Research started coverage on Pfizer in a report on Friday. They set an “underperform” rating and a $25.00 price target for the company. Citigroup started coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.92.

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.