Axxcess Wealth Management LLC Sells 26,738 Shares of Pfizer Inc. (NYSE:PFE)

Axxcess Wealth Management LLC decreased its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 12.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 193,211 shares of the biopharmaceutical company's stock after selling 26,738 shares during the period. Axxcess Wealth Management LLC's holdings in Pfizer were worth $5,592,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PFE. China Universal Asset Management Co. Ltd. bought a new position in Pfizer in the 1st quarter worth about $315,000. GSA Capital Partners LLP purchased a new stake in Pfizer in the first quarter valued at approximately $439,000. Sei Investments Co. lifted its position in Pfizer by 8.2% during the first quarter. Sei Investments Co. now owns 1,660,724 shares of the biopharmaceutical company's stock valued at $46,086,000 after purchasing an additional 126,473 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Pfizer by 1.6% in the 1st quarter. Meeder Asset Management Inc. now owns 54,637 shares of the biopharmaceutical company's stock worth $1,516,000 after buying an additional 881 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its position in shares of Pfizer by 57.4% during the 1st quarter. Sheets Smith Wealth Management now owns 66,449 shares of the biopharmaceutical company's stock valued at $1,844,000 after buying an additional 24,233 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Trading Down 1.8 %

PFE traded down $0.48 during midday trading on Monday, reaching $26.24. 54,173,759 shares of the company's stock traded hands, compared to its average volume of 37,659,016. The stock has a market capitalization of $148.70 billion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 0.85 and a beta of 0.67. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The firm has a fifty day moving average of $28.89 and a two-hundred day moving average of $28.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.60.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm's revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) earnings per share. On average, equities analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer's dividend payout ratio is currently 227.03%.

Analysts Set New Price Targets

A number of research analysts recently commented on PFE shares. StockNews.com raised Pfizer from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, July 31st. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a "market perform" rating and a $32.00 price target on the stock. Finally, Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a "neutral" rating and a $30.00 price objective for the company. Eight analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.58.

Insider Buying and Selling

In other news, Director Scott Gottlieb acquired 1,000 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

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.