Archer Investment Corp Sells 6,484 Shares of Pfizer Inc. (NYSE:PFE)

Archer Investment Corp reduced its position in Pfizer Inc. (NYSE:PFE) by 9.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 62,519 shares of the biopharmaceutical company’s stock after selling 6,484 shares during the period. Archer Investment Corp’s holdings in Pfizer were worth $1,809,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PFE. Olistico Wealth LLC acquired a new position in Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the second quarter worth about $29,000. Quarry LP bought a new stake in Pfizer during the second quarter worth about $31,000. Financial Connections Group Inc. bought a new stake in Pfizer in the second quarter valued at approximately $34,000. Finally, ESL Trust Services LLC bought a new stake in Pfizer in the first quarter valued at approximately $37,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

Pfizer stock traded down $1.33 during mid-day trading on Friday, reaching $24.69. 7,016,707 shares of the company’s stock traded hands, compared to its average volume of 37,672,426. Pfizer Inc. has a 12-month low of $24.65 and a 12-month high of $31.54. The company has a market cap of $139.92 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 0.85 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. The stock has a 50 day moving average of $28.71 and a two-hundred day moving average of $28.65.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same period last year, the business earned ($0.17) EPS. Equities analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.80%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insider Activity

In related news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PFE. StockNews.com raised Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Wolfe Research began coverage on Pfizer in a research note on Friday. They issued an “underperform” rating and a $25.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target 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.