Gratus Wealth Advisors LLC Trims Position in Pfizer Inc. (NYSE:PFE)

Gratus Wealth Advisors LLC reduced its position in Pfizer Inc. (NYSE:PFE) by 12.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,892 shares of the biopharmaceutical company’s stock after selling 2,407 shares during the quarter. Gratus Wealth Advisors LLC’s holdings in Pfizer were worth $493,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp lifted its position in Pfizer by 1.8% during the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after purchasing an additional 290,760 shares during the last quarter. Federated Hermes Inc. grew its stake in Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after buying an additional 470,003 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Pfizer by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after buying an additional 238,850 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.1 %

NYSE PFE opened at $29.18 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market cap of $165.35 billion, a P/E ratio of -486.33, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67. The stock has a 50 day simple moving average of $29.14 and a two-hundred day simple moving average of $28.33. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $33.92.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping 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 firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period last year, the company posted $0.67 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on PFE. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price target 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. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, 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. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

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.