Sara Bay Financial Sells 2,956 Shares of Pfizer Inc. (NYSE:PFE)

Sara Bay Financial trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,688 shares of the biopharmaceutical company’s stock after selling 2,956 shares during the quarter. Sara Bay Financial’s holdings in Pfizer were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFE. Olistico Wealth LLC bought a new stake in shares of Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer in the second quarter valued at about $29,000. Quarry LP bought a new stake in shares of Pfizer in the second quarter valued at about $31,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer in the fourth quarter valued at about $32,000. Finally, Trivant Custom Portfolio Group LLC boosted its position in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Up 2.1 %

NYSE PFE traded up $0.61 during trading hours on Monday, reaching $29.19. The company’s stock had a trading volume of 51,351,755 shares, compared to its average volume of 37,456,285. The firm has a fifty day simple moving average of $29.17 and a 200-day simple moving average of $28.32. The stock has a market cap of $165.41 billion, a P/E ratio of -486.83, a P/E/G ratio of 1.23 and a beta of 0.67. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $33.92. 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 (NYSE:PFE) last issued its quarterly earnings data 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. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the business earned $0.67 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their target price 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. UBS Group boosted their target price 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 raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Thursday. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.54.

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.