Cheviot Value Management LLC Sells 11,479 Shares of Pfizer Inc. (NYSE:PFE)

Cheviot Value Management LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 416,060 shares of the biopharmaceutical company’s stock after selling 11,479 shares during the quarter. Pfizer comprises approximately 2.3% of Cheviot Value Management LLC’s holdings, making the stock its 14th largest position. Cheviot Value Management LLC’s holdings in Pfizer were worth $12,041,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Olistico Wealth LLC bought a new position in Pfizer during the 2nd quarter valued at about $25,000. Gladius Capital Management LP grew its position in shares of Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the second quarter valued at approximately $29,000. Quarry LP bought a new position in shares of Pfizer during the second quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new position in Pfizer during the second quarter valued at $34,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PFE has been the subject of a number of research reports. Citigroup initiated coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Price Performance

PFE opened at $26.25 on Monday. 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 business has a fifty day moving average of $27.83 and a 200 day moving average of $28.49. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The stock has a market cap of $148.76 billion, a P/E ratio of 35.42, a PEG ratio of 0.71 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted 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. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the prior year, the business posted ($0.17) earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid 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 is Friday, November 8th. Pfizer’s dividend payout ratio is presently 227.03%.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company 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.