Brookstone Capital Management Cuts Stake in Pfizer Inc. (NYSE:PFE)

Brookstone Capital Management reduced its stake in Pfizer Inc. (NYSE:PFE – Get Rating) by 37.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 106,089 shares of the biopharmaceutical company’s stock after selling 64,792 shares during the quarter. Brookstone Capital Management’s holdings in Pfizer were worth $5,721,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Clarus Wealth Advisors purchased a new position in shares of Pfizer in the 1st quarter worth about $201,000. Kiley Juergens Wealth Management LLC raised its stake in Pfizer by 11.4% in the 1st quarter. Kiley Juergens Wealth Management LLC now owns 22,093 shares of the biopharmaceutical company’s stock valued at $1,144,000 after acquiring an additional 2,257 shares during the period. Cooper Financial Group raised its stake in Pfizer by 60.8% in the 1st quarter. Cooper Financial Group now owns 15,758 shares of the biopharmaceutical company’s stock valued at $816,000 after acquiring an additional 5,959 shares during the period. Crestwood Advisors Group LLC raised its stake in Pfizer by 4.3% in the 1st quarter. Crestwood Advisors Group LLC now owns 33,693 shares of the biopharmaceutical company’s stock valued at $1,744,000 after acquiring an additional 1,384 shares during the period. Finally, Bromfield Sneider Wealth Advisors bought a new stake in Pfizer in the 1st quarter valued at about $101,000. 66.50% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on PFE shares. Barclays set a $52.00 price objective on Pfizer in a research note on Tuesday, May 17th. Wells Fargo & Company lowered their price objective on Pfizer from $60.00 to $55.00 in a research note on Wednesday, May 4th. Citigroup upped their price target on Pfizer from $46.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, April 5th. JPMorgan Chase & Co. set a $57.00 price target on Pfizer in a research report on Tuesday, May 3rd. Finally, SVB Leerink initiated coverage on Pfizer in a research report on Monday, May 23rd. They set a “market perform” rating and a $55.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.26.

In other Pfizer news, EVP William R. Carapezzi, Jr. sold 32,908 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $50.00, for a total value of $1,645,400.00. Following the completion of the sale, the executive vice president now owns 38,146 shares of the company’s stock, valued at $1,907,300. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jennifer B. Damico sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $50.50, for a total value of $202,000.00. Following the completion of the sale, the senior vice president now directly owns 15,064 shares of the company’s stock, valued at approximately $760,732. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,126 shares of company stock valued at $2,075,003. 0.05% of the stock is owned by insiders.

Shares of NYSE PFE opened at $49.07 on Thursday. Pfizer Inc. has a 12 month low of $38.82 and a 12 month high of $61.71. The company has a current ratio of 1.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $275.33 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.56 and a beta of 0.76. The business has a 50-day moving average of $50.57 and a 200-day moving average of $52.22.

Pfizer (NYSE:PFE – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.04). Pfizer had a return on equity of 38.29% and a net margin of 26.97%. The business had revenue of $25.66 billion for the quarter, compared to analysts’ expectations of $24.73 billion. During the same period in the previous year, the firm posted $0.93 EPS. The firm’s revenue for the quarter was up 76.8% compared to the same quarter last year. On average, analysts predict that Pfizer Inc. will post 6.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 13th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Thursday, May 12th. Pfizer’s dividend payout ratio is currently 36.70%.

About Pfizer (Get Rating)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

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